Tips to prepare for SARS filing season

Written By Ernst Botha

The 2024 tax season is around the corner! To help you stay compliant, we’re sharing some tips to help you prepare for a stress-free tax season.

FOLLOW THESE TIPS TO PREPARE FOR
A STRESS-FREETAX SEASON

Tip 1: Ensure that all details presented on your tax certificates are correct.

Ensure that at a minimum the following is accurate and present on each tax certificate:

  • Name;

  • Surname;

  • ID Number; and

  • Tax Number

Even the smallest mistake can lead to SARS rejecting the document as part of your tax return. If you spot a mistake, make sure you contact the relevant third party as soon as possible to get the correct details.

Tip 2: Ensure that all amounts presented on your tax certificates are accurate.

It’s your respnsibility to ensure that all amounts present on the tax certificate is accurate. e.g. The amount showcased on your IRP5 for Salary and Travel Allowances reconciles to your monthly payslips for the tax year.

An error could result in SARS taxing you more than what is absolutely necessary. Contact the relevant third party as soon as possible to ensure the amounts are corrected.

Tip 3: Store all your tax certificates in one place and ensure it remains complete.

Store all the tax certificates you receive in a centralised place. This can be your phone, PC, the cloud or even an email mailbox.

You should also ensure that you keep track of any tax certificates you have not yet received and follow up with the external provider. Completeness can be assessed through comparing the tax certificates you received for prior returns and considering any changes that might have occured in the current tax period.

Tip 4: Ensure that your SARS Filing profile is up to date up to date.

If there have been any changes to your surname, contact details, banking details or address; be sure to update your SARS efiling profile sooner rather than later.

This will avoid delays in the processing of your return when tax filing season starts.

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Ernst Botha

Ernst completed his Bachelor of Accounting and CTA at the University of Johannesburg, followed by his SAICA articles at a Big 4 accounting firm, where he specialised in the Telecommunication and Technology industry. He has since gained extensive experience as a senior financial accountant in the corporate sector, with a strong focus on accounting services, including statutory reporting, regulatory compliance, and tax compliance. In addition to his professional work, Ernst has lectured postgraduate taxation at the University of Johannesburg, further demonstrating his depth of knowledge in the field.

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