Guiding consumers since 2009

Tax return deadline is Friday 26 November

By Staff Writer
Taxpayers have until Friday to submit their annual income tax returns, the SA Revenue Service (Sars) said on Monday.

"Friday's deadline will not be extended. Taxpayers who fail to meet this deadline will face administrative penalties that accumulate monthly for every month that a return is outstanding," Sars said in a statement.

The deadline applied to non-provisional taxpayers - or those whose source of income was a monthly salary.

So far, about 3.2 million returns were submitted to Sars since the start of Tax Season 2010 on July 1.

"Of this total more than 1.7 million returns have been submitted electronically via eFiling while Sars branch offices have assisted more than 1.3 million taxpayers to submit their returns electronically to date," Sars said.

Provisional taxpayers - people who have additional sources of income such as taxable interest - had until January 31, 2011 to submit their tax returns.

By the end of last week, Sars had received about 100 000 more returns than the corresponding period last year.

"For Sars this is a very encouraging trend in that more taxpayers are submitting tax returns early to avoid the last minute rush to Sars offices which has been a regular feature in the pattern of filing during previous years."

Sars will extend its services in various venues across the country this week to assist last-minute taxpayers.

Recent Articles

Featured Is a home loan a great savings tool?

There are many saving and investment options available to consumers. What you decide to use is dependent on your circumstances. But should you make your home loan your choice of a savings vehicle and how does that exactly work?

Everything you should know about tax auto assessment

In 2019, the South African Revenue Service (SARS) launched a system, which was dubbed an “auto assessment”, to assist taxpayers with their annual tax returns. But what does this system entail, and how will it impact you?

What does it mean to be a registered Financial Services Provider?

You may have noticed that financial institutions state that they’re registered Financial Services Providers (FSP). But what does this actually mean, and how does this benefit you as a consumer?

Should the retirement age change?

Across the world, people are retiring later than they used to. However, retirement products are centred around set retirement ages at which point you’d be able to access your retirement savings. But how applicable is the current retirement age in South Africa?

Deals

Earn up to 50% of your tax return submission fee back in eBucks

Price: Available on request
When: Daily
Where: Nationwide

Be part of the Belly Of The Beast Weekday Spring Special Lunch

Price: R350
When: From 23 September 2020
Where: Cape Town

Tony’s Roma Breakfast Special

Price: R39
When: Daily
Where: Cape Town


Latest Guide

Guide to debt rehabilitation solutions