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SARS: Update on Auto-Assessments status
- 10 July 2024
- SARS Issues
- South African Accounting Academy
SARS has reminded those taxpayers who haven’t received an auto-assessment notification that the process will take two weeks.
Auto-assessments started on Monday, 1 July and will continue until the opening of the 2024 tax season on Monday, 15 July. The auto-assessments on the system are rolled out in batches from 1 to 14 July 2024.
Taxpayers are urged to wait for the SMS/email notice before logging in to eFiling or MobiApp.
From 1 July 2024, taxpayers are able to check their auto-assessment status at https://tools.sars.gov.za/sarsonlinequery/assessmentlookup
If you are in agreement with your auto-assessment, then there is no need to 'accept' the assessment. If a refund is due to you, it will automatically be paid into your bank account.
Those taxpayers who haven’t received a notification can check to see if they are due to receive one – or not – by checking their status on the SARS Online Query System (SOQS) at https://tools.sars.gov.za/sarsonlinequery/assessmentlookup
Click here to access more detail:
https://www.sars.gov.za/types-of-tax/personal-income-tax/filingseason/how-does-auto-assessment-work/
Relevance to Auditors, Independent Reviewers & Accountants:
- The Income Tax Act is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (NOn-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
- Individual taxpayers and trusts, must submit their 2024 income tax return to SARS before the relevant deadline date.
- Tax practitioners should inform their tax clients of the penalties & interest that SARS will levy on late income tax return submissions.
- It is important to remain aware of new developments announced by SARS, e.g. updates on the auto-assessment process.
Relevance to Your Clients:
- Individual taxpayers and trusts, must submit their 2024 income tax return to SARS before the relevant deadline date.