What you should be doing in preparation for the upcoming filing season which will likely commence on 1 July 2023, is to:
- Make sure that you have received your IRP5/IT3 certificates;
- Medical contributions certificate;
- Retirement annuity contributions certificates;
- Investment certificates; and
- Collate all other relevant information.
Furthermore, it is crucial that you:
- ensure that your banking details are up to date.
- ensure that your tax status is correct (where you have ceased to be a South African tax resident).
- declare your South African source income if you are a non-South African tax resident.
- declare your worldwide income if you are a South African tax resident.
Taxpayers can also expect changes to the auto-assessment process, as highlighted during the 2023/2024 Budget Speech. It was proposed that the time period to submit a return where taxpayers disagree with an auto-assessment should be expanded to align with the end of the filing season for non-provisional taxpayers.
The 2023 filing season deadlines have not yet been published, and it would likely follow the same timelines as prior years.
