"You've been auto-assessed..."
The infamous last words for a large amount of taxpayers who have not declined this offer by SARS as yet first let's get a few things out of the way:
What is an auto-assessment?
This is an assessment temporarily submitted by SARS based on information from your employer/s. This includes investments, medical aid, earnings, etc. It is on this basis that they determine how much SARS owes you or you owe them.
What happens if you decline?
You are allowed to decline the assessment if the information is different or feel that some data has been omitted from your submission. Declining also means you need to file as per usual with supporting documents; especially for the differences in your recon to SARS.
What if you accept?
That means the return has been filed and you do not need to take any further actions. Well done!
How long do you have to file?
The deadline is 24 October 2022. If requested on time and with good reason, you may be granted an extension.
Where does MAS step in?
If you are not too comfortable handling your own taxes, contact us and a friendly consultant will help you file and be tax compliant, minus 1 big problem!