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IOL News
9 hours ago
- Business
- IOL News
Ready, set, tax! Everything you need to know about the 2025 tax season
Discover how auto-assessment will simplify your tax returns and what you need to do to ensure a smooth filing process. Calling all taxpayers! The South African Revenue Service (SARS) has officially announced the dates for the 2025 tax season - July 7 to October 20, 2025. The revenue collector said, "This season marks an important period where income tax returns of the majority of taxpayers will be automatically assessed." "The taxpayers in the auto assessment category do not have to do anything if they are satisfied with the calculation on their tax returns. "If the taxpayer is of the opinion that SARS has not captured all the necessary information, they are free to make changes on their tax returns and submit the missing information through eFiling by October 20," read a statement from SARS.
The Citizen
10 hours ago
- Business
- The Citizen
Almost time again for tax season: Here's when you will be auto-assessed
It is almost time to pay Ceasar what belongs to Ceasar, with Sars pointing out that tax season starts soon and taxpayers must get ready. It is almost that time of year again: tax season begins on 7 July and runs until 20 October. This will be the first time that income tax returns from the majority of taxpayers are automatically assessed, making the process smoother and faster. According to the South African Revenue Service (Sars), the category of taxpayers who are automatically assessed will receive notification from SARS between 7 and 20 July. Taxpayers who do not receive these notifications are encouraged to submit their tax returns on time with accurate information from 21 July 2025. 'We urge all taxpayers to prepare their documentation early to check their assessments and avoid last-minute delays for those that must submit an income return. We also require taxpayers to ensure that their banking details are correct and updated to ensure efficient processing of any refund that may be due.' Sars says if you need to change your bank details, you must first check that your security contact details (email and cell phone number) on the Sars eFiling are up to date. If your banking details and security contact details are still the same, you do not have to do anything. ALSO READ: How government spends every R100 you pay in tax What are auto assessments and who gets them? The office of the tax man decided to start auto assessments in line with its strategic objective to make it easy for taxpayers to comply. 'We identified a large segment of non-provisional and provisional taxpayers who receive income from one or more sources from formal and other forms of employment and whose tax affairs are not complicated. 'They were selected to be automatically assessed in a process made possible by the availability of third party data received from employers, pension fund administrators, medical aid schemes and others.' Sars says this enables it to complete the tax declaration on behalf of this segment of taxpayers and issue an auto assessment for them. 'Taxpayers in the auto assessment category do not have to do anything if they are satisfied with the calculation on their tax returns. 'If the taxpayer believes that Sars did not capture all the necessary information, they can make changes on their tax returns and submit the missing information through eFiling by 20 of October 2025. 'Where the taxpayer has a refund due, they will receive it in 72 hours if all their information is correct. If they owe Sars, they must pay Sars through their respective banks.' ALSO READ: Sars auto-assessments: What you need to know The auto assessment steps According to Sars the auto assessment steps are: From 7 July, Sars will communicate directly with affected taxpayers by SMS and/or email, notifying them of their auto-assessed tax returns. If there is a refund due, it will be paid directly into the taxpayer's bank account within 72 business hours after the notification. If you owe Sars money, you must pay it into Sars' bank account, eFiling or through the Sars MobiApp by the stipulated date. Taxpayers can access their auto assessed income tax returns through any of Sars's channels, such as the Sars MobiApp or Sars eFiling, to review and verify the completeness and accuracy of the information that resulted in the auto assessment. If taxpayers are satisfied with the auto assessment, they do not have to do anything further and the process terminates at this point. If the taxpayer finds that there is missing and/or inaccurate information, pertaining to either income or expenses, which may have affected the outcome, they must declare it to Sars by submitting a tax return. ALSO READ: Tips to get on top of your tax return Tax payers with more complex tax matters must still submit a tax return The tax matters of taxpayers who are still required to file a tax return or non-provisional taxpayers and other taxpayers are deemed complex and they will be able to start filing tax returns from 21 July until 20 October 2025. Sars says provisional taxpayers as well as trusts can start filing a return from 21 July 2025 until 19 January 2026. The Sars team enhanced its support services this year, to include: More information on Sars's Interactive channels Extended customer service hours Updated online filing platforms for easier submission Comprehensive guidance and resources available on its website Increased security measures to protect sensitive information. 'We remind taxpayers to ensure that their submissions comply with current regulations and deadlines to avoid penalties. For assistance tax payers can visit the Sars website, Sars YouTube TV channel for how to videos. 'Taxpayers are encouraged not to visit to our branches but use our digital channels, namely eFiling, or the Sarsmobiapp to transact with Sars. But if it is unavoidable, tax payers can book an appointment.
The South African
10 hours ago
- Business
- The South African
SARS confirms dates for 2025 tax season
The South African Revenue Service (SARS) has officially announced the all-important dates for the 2025 tax season , urging taxpayers to prepare early and ensure their personal details are up to date. According to SARS, the tax season for individual non-provisional taxpayers will begin on 21 July 2025 and close on 20 October 2025. The period for provisional taxpayers and trusts will run from 21 July 2025 to 19 January 2026. In addition, auto-assessments – a process whereby SARS pre-populates tax returns for eligible taxpayers – will commence two weeks before tax season officially opens. These will be rolled out between 7 July and 20 July 2025. 'All taxpayers who have not been processed through auto-assessments will be required to file their returns manually,' SARS said in a statement. The revenue authority noted that some individuals may not be required to submit a return at all. Specifically, taxpayers earning less than R500 000 per year may be exempt – provided they meet a set of specific criteria, such as receiving income from only one employer and having no additional deductions or income streams. SARS has also highlighted the importance of ensuring that banking and contact details are correct on eFiling. Updated details are essential for the swift processing of refunds and for security purposes. 'If you need to change your bank details, you must first check that your security contact details, including your email address and cell phone number, are up to date on eFiling,' the agency added. Category Opening date Closing date Auto-Assessments 7 July 2025 20 July 2025 Individuals (non-provisional) 21 July 2025 20 October 2025 Provisional Taxpayers 21 July 2025 19 January 2026 Trusts 21 July 2025 19 January 2026 Taxpayers are encouraged to begin gathering supporting documents – including IRP5s, medical aid certificates, and retirement annuity records – in advance to avoid last-minute filing issues. SARS has reiterated that if no changes have occurred in a taxpayer's banking or security contact details, no action is needed. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The Citizen
14 hours ago
- Business
- The Citizen
SARS tax filing season to open in July
Tax filing season is around the corner and South Africans are expected to square up their affairs with the South African Revenue Service (SARS) from 7 July to 20 October 2025. According to SARS, taxpayers who are automatically assessed will begin to receive notifications from July. 'Taxpayers who do not receive notifications from SARS that they are automatically assessed, are encouraged to submit their tax returns in a timely and accurate manner from 21 July 2025. 'The Filing Season will close on 20 October 2025 for non-provisional individuals,' the revenue collector said in a statement on Monday. Taxpayers are urged to start preparing documentation in advance and check their assessments to 'avoid last-minute delays for those that must submit an income return'. 'SARS requires taxpayers to ensure that their banking details are correct and updated. This ensures efficient processing of any refund that may be due. 'If you need to change your bank details, you must first check that your security contact details (email and cell phone number) on the SARS eFiling are up to date. There is no need to do anything if your banking details and security contact details have not changed,' SARS said. Making compliance easier SARS has identified a portion of provisional and non-provisional taxpayers for auto-assessment. The move is targeted at taxpayers who have one or more sources of income from formal and other forms of employment and 'whose tax affairs are not complicated'. The steps in the auto assessment process are as follows: • From the 7th of July, SARS will communicate directly with affected taxpayers by SMS and/or email, notifying taxpayers of their auto-assessed tax returns. • If there is a refund due to the taxpayer, it will be paid directly to the taxpayer's bank account within 72 business hours after the notification. If there is money owing to SARS, it must be paid to SARS' Bank Account, eFiling or through the SARS MobiApp by the stipulated date. • Taxpayers can access their auto assessed income tax returns through any of SARS's channels, such as the SARS MobiApp or SARS eFiling, to review and verify the completeness and accuracy of the information that resulted in the auto assessment. • If a taxpayer is satisfied with the auto assessment, they don't have to do anything further and the process terminates at this point. • If the taxpayer finds that there is missing and/or inaccurate information, pertaining to either income or expenses, which may have affected the outcome, it must be declared to SARS by submitting a tax return to SARS. 'The process of automatic assessment is made possible by the availability of third-party data received from employers, pension fund administrators, medical aid schemes and more. This enables SARS to complete the tax declaration on behalf of this segment of taxpayers and issue them with an Auto Assessment. 'The taxpayers in the auto assessment category do not have to do anything if they are satisfied with the calculation on their tax returns. If the taxpayer is of the opinion that SARS has not captured all the necessary information, they are free to make changes on their tax returns and submit the missing information through eFiling by the 20th of October 2025. 'Where the taxpayer has a refund, they will receive it in 72 hours if all their information is correct. If the taxpayer owes the revenue collector, they must pay through their respective banks,' SARS said. Complex matters Those taxpayers whose tax matters are considered complex will be able to start filing their returns from 21 July until 20 October. Provisional taxpayers as well as trust submissions will also be able to start filing on those dates. SARS's enhanced support services this year include: • More information on SARS's Interactive channels • Extended customer service hours • Updated online filing platforms for easier submission • Comprehensive guidance and resources available on our website • Increased security measures to protect sensitive information 'We remind taxpayers to ensure that their submissions comply with current regulations and deadlines to avoid penalties. For assistance, please visit SARS website, SARS YouTube TV channel on how to videos. you can rather plug the interactive channels for various enquiries 'Taxpayers are encouraged not to visit to our branches but use our digital channels, namely eFiling, SARS mobiapp to transact with SARS. If it is unavoidable, please book an appointment. 'Together, let's ensure a smooth and efficient filing season,' SARS concluded. – At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
15 hours ago
- Business
- IOL News
SARS opens 2025 tax season on July 7
SARS has announced the dates for the 2025 individual tax filing season, with key deadlines for both automatic and manual submissions. The South African Revenue Service (SARS) has confirmed that the 2025 individual tax filing season will open on July 7, 2025 and close on October 20, for non-provisional taxpayers. This period includes automatic assessments for qualifying taxpayers and standard submissions for others. According to SARS, a large group of individual taxpayers will again be subject to automatic assessment. These assessments are based on third-party data from employers, pension funds, medical schemes, and other institutions. Taxpayers selected for automatic assessment will receive notifications via SMS or email between July 7 and 20. Individuals who do not receive an automatic assessment notification are required to file their income tax returns between July 21 and October 20. Provisional taxpayers and trusts have until January 19, 2026 to complete their submissions. Taxpayers are advised to verify that their banking and contact details are correct on the SARS eFiling system to facilitate processing, including potential refunds. There is no requirement to update details if there have been no changes. SARS states that taxpayers who are satisfied with the automatic assessment issued to them do not need to take further action. Where taxpayers identify missing or incorrect information in the assessment, they may submit corrections via SARS eFiling or the SARS MobiApp by October 20. Refunds for accurate returns will be processed within 72 business hours. If tax is owed, payment must be made through SARS-approved banking platforms or digital channels. From July 7, SARS will notify affected individuals of their auto-assessed status. These taxpayers can access their assessments through eFiling, the MobiApp, or other SARS digital platforms. For those required to file manually, SARS emphasises the importance of preparing documentation early and submitting returns on time. Late submissions or inaccurate returns may result in penalties. To support taxpayers during the 2025 season, SARS has made several system and service enhancements, including: Improved digital filing channels Extended service hours Step-by-step video guidance via the SARS YouTube channel Strengthened data protection measures Taxpayers are advised to make use of SARS's digital services - such as eFiling, the MobiApp, and other online platforms - rather than visiting a branch in person. If a branch visit is necessary, it's important to book an appointment ahead of time. Further information and support can be accessed via the official SARS website and digital help channels.
