15 July 2020 at 22:11
I received an auto-assessment from SARS but I am confused what this means. Why have I been selected by SARS and how did SARS get my data? Can I still submit a tax return if I want to?
This entry was posted in Tax Q&A and tagged Salary / IRP5, Medical, Deductions, Retirement, Depreciation / Wear and Tear, Audit / Verification, PAYE & UIF. Bookmark the permalink.
15 July 2020 at 22:16
SARS is issuing auto-assessments to certain taxpayers this year. If they think they have collected all available 3rd party data about you (i.e. from your employer, medical aid, retirement fund, etc.) they may automatically issue you an assessment.
If you accept the assessment, you don't need to submit a tax return.
However, there is a risk that the auto-assessment does not reflect an accurate view of your total income and expenses for the year. This is because SARS may not have all the information about you. For example, if you have deductions to claim, like home office expenses or Wear and Tear you won't be able to claim these UNLESS you reject the auto-assessment and submit a tax return with TaxTim. We will ensure you claim all possible deductions to maximise your chance of a refund.
You can read instructions on how to reject the auto-assessment by clicking here.
Please read our blog for more details about auto-assessments.