![]() The South African Revenue Service (SARS) has announced significant updates for the 2024 tax season, including provisions for solar energy and tax-free savings. The new tax season begins on 1 July 2024, with the introduction of auto-assessments. SARS has outlined six key changes for individual taxpayers, involving updates to processes, forms, and tax categories. These changes primarily address technical details, such as the timing of deductions for contributions to retirement funds and tax-free savings accounts, as well as the introduction of new subsidies. Notably, the 2024 tax year marks the implementation of the solar tax credit, and individuals who have utilized this temporary subsidy should ensure it is properly declared this year. You can read more here from SARS regarding the Tax season, SARS Tax Season. Key filing dates Please take note that previously some auto assessments received by our clients required corrections and adjustments, so don't just simply accept SARS' assessment. Review it and consult a tax practitioner if you need help. You may contact our Su-Chin Chen who is our Accountants by sending an email to: [email protected] Tax CertificatesYou should have received tax certificates from financial institutions in last few weeks to aid in your tax filing. These certificates include those from medical aids, banks, life insurance companies, and investment companies. Please check your email inbox and junk folder, searching for the keyword "tax certificate" to locate relevant emails. Download the attached tax certificates and save them in a folder on your local drive or cloud storage for your tax filing purposes. Below we indicate how you can get your tax certificate from Various providers:
Discovery Health
If you would like assistance with getting your tax certificate please contact our team on email: [email protected], tel: (011)658-1333
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AuthorKevin Yeh Archives
January 2025
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