Top Common Tax Mistakes to Avoid and How to Fix Them
Introduction: Paying taxes can be a complicated process, and even the most diligent taxpayers can make mistakes. Unfortunately, errors on your tax return can result in penalties, delays, audits or even criminal charges. In this article, we will highlight the most common tax mistakes that individuals make, explain how to avoid them and provide solutions […]
Section 93(1)(d) – Reduced assessment due to undisputed error
Reduced assessment due to undisputed error The South African Revenue Service (SARS) offers taxpayers a streamlined process to correct certain errors in tax assessments without resorting to formal objection and appeal procedures. This process, facilitated through the Request for Reduced Assessment (RRA01) form, allows taxpayers to request amendments to assessments to correct undisputed errors […]
What does finalised with changes from SARS mean?
What does finalised with changes from SARS mean? A SARS “Verification Finalised with Changes” letter typically means that SARS has completed the verification process of your tax return and found discrepancies or issues that required adjustments. Here’s a breakdown of what this could mean for you: Verification Process Complete: SARS has reviewed the […]
Should I Submit a Tax Return in 2024? Essential Tips for All South Africans
Should I Submit a Tax Return in 2024? In this article, we look at whether you should submit a tax return. At the end of the article, we will post a form that can assist you in deciding whether you need to submit a tax return. Not everyone should submit a tax return. […]
Can SARS see all my bank accounts? Crucial Tips for the 2024 Tax Season:
Can SARS see all my bank accounts? Stay Out of Trouble with SARS, Know how SARS Bank Account Access It is important to be vigilant and honest on your tax return. SARS has access to your bank accounts through third parties such as banks. SARS may raise additional assessments if they detect undeclared income, […]
What if there is no response from SARS?
What if there is no response from SARS? KEY TAKEAWAY POINTS: SARS has 21 business days to complete a verification They may finalise it with or without changes If they take more than 21 business days, you have a right to lodge a complaint If nothing happens, you may take the matter up with […]
How to hold SARS accountable
The office of the Tax Ombud was established to act as a bridging gap between SARS and the taxpayer. But, taxpayers do not always have a direct line to connect with the Tax Ombud. A taxpayer may lodge a complaint with the Tax Ombud after they have exhausted all the SARS complaints mechanisms unless they […]
How to avoid or reduce the risk of a SARS audit
By now we all know that SARS is looking to raise more tax revenue to make up for revenue collection shortfalls. This means SARS may and will do all they can to increase revenue collections. It will not be surprising to find that SARS audit teams will target taxpayers in order to raise additional income. […]
Owing SARS, what are your options?
If you follow our posts, you will have come across one of my articles that dealt with the approach SARS has taken to deal with the non-submission of a tax return. This is a follow-up to this article. So now you read that SARS will prosecute you for non-submission and charge you an R5 600 […]
How to guard yourself against being sued by SARS
Since April 2018, SARS has been cracking down on non-complying taxpayers in filing their tax return. Since April, SARS has successfully prosecuted and convicted 10 taxpayers for failing to submit their outstanding tax return. Among these people is prominent soccer player, Teko Modise. Most of you would have also read about the socialite Bonang being dragged to […]