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Seth Rotherham
  • Last-Minute Tips For Those Who Still Haven’t Filed Their Taxes

    08 Oct 2018 by Carrie in Business, Economics, Finance, Galbraith Rushby, Partners, taxi
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    It’s the last month of tax season, which means that you have to stop procrastinating and file your taxes before it’s too late.

    Nobody gets a kick out of doing their taxes – or maybe there are those who do. I don’t know what you’re all into out there, and I’m not going to judge.

    Still, it’s a necessary part of that dreaded word, ‘adulting’, and if you don’t do it soon there will be consequences.

    To help you along, here’s IOL with everything you need to know about the next month:

    • Tax season will close on October 31 for non-provisional taxpayers and for those provisional taxpayers who opt to file at a branch.
    • SARS said in the last month of filing season, the SARS contact centre will be available on Saturdays from October 6 – 27 from 8AM to 1PM to support those wanting to file with eFiling.
    • All SARS branches will also be open on Saturdays at the same time where taxpayers can make use of self-help kiosks to electronically file their personal income tax returns.
    • It is important to note that the extended hours on Saturdays will only be used to assist with personal income tax returns.

    This is the really important part, so pay attention:

    Administrative penalties will be applied to late filing of tax returns and range from R200 to R5 000. In accordance with the Tax Administration Act No. 28 of 2011 (TAA), and specifically Section 234 (d), it is a criminal offence not to submit a tax return for any of the tax types a taxpayer is registered for.

    SARS has been clamping down on outstanding tax returns to improve compliance. This year alone, 18 taxpayers have been prosecuted for not filing a return.

    The taxpayers in question chose to ignore SARS reminders that they were due to file a return, resulting in a criminal record and a fine ranging from R2 000 to R20 000.

    Not a good vibe.

    Your safest bet, especially if you’re the type of person who leaves their taxes till the last minute, is to get some efficient professional help.

    Galbraith | Rushby offer professional tax compliance and advisory services to individuals and businesses, rendering the level of service that you’d expect from a large audit firm, but at the price of a small firm.

    They can assist you with all of your tax advisory and compliance needs, which means that you don’t make the kind of mistakes that could land you with a fine or a criminal record.

    So go home, check out their website, and stop panicking about your tax filing headaches.

    The clock is ticking.

    [source:iol]

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