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2020 TAX SUBMISSIONS
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2020 TAX SUBMISSIONS
- Tax season starts 1 September 2020
- Due dates:
31 October 2020 - At a SARS branch
4 December 2020 – non-provisional taxpayers who use e-Filing and MobiApp
31 January 2021 – Provisional taxpayer using e-Filing
Clients will be receiving letters from SDK Chartered Accountants (SA) notifying them of the tax information required to submit their tax return.
TAX SEASON FOR INDIVIDUALS
On 5 May 2020 the SARS Commissioner, Edward Kieswetter, reiterated how important it is for us as taxpayers to remain compliant with SARS. In response to COVID-19 SARS has made changes to the personal filing season by putting the following three phases in place:
- Phase 1: Employer Filing (15 April 2020 – 31 May 2020)
From 15 April 2020 – 31 May 2020 SARS will focus on employers being fully compliant especially in the employer annual reconciliation process.
- Phase 2: Tax File update (1 June 2020 – 21 August 2020)
During 1 June 2020 – 21 August 2020 SARS is requesting that taxpayer engage with them to ensure their tax files are up to date, e.g. banking details, postal and physical address. Due to the impact of COVID-19 these checks will now mainly be performed online.
SARS will also follow up on 3rd party information to ensure the highest level of integrity. Third party data providers e.g. employers, who remain wilfully non-compliant will be criminally charged during this period.
During this time a significant number of taxpayers will receive auto-assessments and given an opportunity to confirm their acceptance of the assessment outcome.
- Phase 3: Employee filing (1 September 2020 – 31 January)
Non-Provisional taxpayers will have a deadline to file their tax returns at the branch until 22 October 2020 and will be required to file their tax returns on e-filing as from 1 September with the filing deadline of 16 November 2020.
Provisional taxpayers will be required to file their tax returns from 1 September 2020 until 31 January 2021.
It is important for all taxpayers to submit their returns during this tax season and stay compliant with SARS, let SDK Chartered Accountants (SA) guide you with your taxes!
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Technology, COVID-19 and How the World Will Change
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We must all adapt to the rapidly-changing world thrown at us by the pandemic. We have no alternative - both our businesses and our personal lives are already deeply dissimilar to what they were only a few short months ago, and there is no sign that things will start stabilising any time soon.
What part is technology playing in this process, what part will it play in the future, and will it be used as a weapon or as a helpful tool? What will our post-pandemic world look like? Who better to ask than the President of Microsoft, so we share his thoughts on these questions in a discussion ranging from the impact of online crime to the future of offices and the shift to remote working, the fight against fake news, the role of Artificial Intelligence, and much more.
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Tax Freedom Day: How Many Days Did You Work for The Taxman in 2020?
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“Tax Freedom Day” is a concept telling us taxpayers just how long we have to work every year to pay the Taxman his share before we start earning for ourselves.
Normally our “Freedom Day” gets later and later every year in line with the general trend towards more and more taxation, but 2020 as it turns out has been an exception. In fact this year it arrived signifcantly earlier than it did in 2019.
Why is this, and why is it bad news for us all? We discuss the answers to those questions in the context of the pandemic, the lockdown and the resulting economic crisis, with some (as you’d expect, rather gloomy) pointers to the future trajectory of our embattled economy.
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Life Made Easier (and Safer) For Non-eFilers
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When SARS have requested documentation from taxpayers who do not use eFiling, the taxpayers have had to take these documents into a SARS Branch. Now SARS have launched on online form that taxpayers can complete and upload with the documentation requested by SARS.
The online form can take ten documents which need to be 5MB or less in size.
The process is very simple, and taxpayers merely need to follow the instructions set out.
As a trip to SARS can take a full morning, this is a time saver for taxpayers and is safer as taxpayers are less at risk of catching COVID-19.
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Your Tax Deadlines for June 2020
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- 5 June – Monthly PAYE submissions and payments
- 25 June – VAT manual submissions and payments
- 28 June – Excise Duty payments
- 30 June – VAT electronic submissions and payments
- 30 June – CIT Provisional Tax Payments where applicable.
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Disclaimer
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The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.
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