2018 SARS tax deadline is looming!

Posted by Nico Viljoen on 19 September 2018.

Nico Viljoen

MBA, Hons BCompt, HDip Tax (Jefferson School of Law USA), HED, AGA(SA) DBA Graduate Student, Business School Netherlands

The Tax Shop Head Office

More about Nico Viljoen

Nico obtained qualifications from various academic institutions and currently studies towards the DBA at the Business School Netherlands. He is an associate member of the South African Institute of Chartered Accountants. After completion of his articles with PWC, he lectured in the fields of taxation, accounting and auditing at the Vaal University of Technology. Thereafter, he occupied financial executive positions in the heavy engineering, chemical, transport and automotive industry. Nico has owned and managed various successful businesses over the 20 years. Nico has been a business mentor for various organisation and serves as an external moderator for taxation and internal auditing.

By now your personal tax filing is done and dusted and you have already received your refund from SARS. Right?

We know that this best-case scenario may not necessarily be applicable to you for the following three reasons:

  1. You need help. The purpose of getting help with your personal and business tax affairs is to reduce your administrative burden of dealing with SARS, including:
    • Completing and submitting your tax returns;
    • Advising you on tax planning and calculation of tax liabilities.

    Tax professionals such as The Tax Shop franchises’ main objective is to make your life easier, by saving you both time and money and ensuring you are tax compliant.

  2. You are being audited. You received the dreaded news that your tax affairs are being placed under a microscope by SARS. Hopefully, your tax compliance is in order; however, if not, you do have options. Did you know that a taxpayer who is subject to a tax audit has certain rights to engage with SARS, which includes the right to be advised of the audit findings? Also, where there are any potential adjustments of material nature, the taxpayer has 21 business days to respond in writing to the outcome of the audit.
  3. You are unaware that the 2018 SARS tax season deadline for non-provisional taxpayers is 31 October 2018, which has been shortened by three weeks, compared to last year. SARS states the reason for the shorter submission year, as an effort to eliminate the numerous time-consuming practices by taxpayers which clogged up the system during the previous filing periods, including voluntary tax returns submissions (1.8 million voluntary tax filings in 2016, with 1.6 million voluntary tax filings in 2017).

Know your tax return eFiling deadlines

  • eFiling submissions for non-provisional taxpayers: 31 October 2018
  • eFiling submissions for provisional taxpayers: 31 January 2019

Know when you don’t have to submit a tax return

You do not need to submit a tax return if all the following apply to you:

  • The taxpayer’s total employment income/salary for the year of assessment (March 2017 to February 2018) before tax (gross income) was no more than R350 000, and
  • Employment income/salary for the year of assessment (March 2017 to February 2018) was received from one employer, and
  • The taxpayer has no other form of income (e.g. car allowance, company car, business income, interest, rental income or income from another job), and
  • The taxpayer does not want to claim for any allowable tax related deductions or rebates (e.g. medical expenses, retirement annuity contributions, travel expenses, etc).

If you don’t have to submit a tax return, it is still advisable to file your tax return voluntarily.

For any advice, support or assistance in preparing your annual tax returns and meeting your SARS tax filing deadline, contact The Tax Shop. Our tax professionals are available to help you anywhere in South Africa.