The Personal Income Tax Filing Season will commence on 01 July 2013. Manual returns must be filed no later than 27 September 2013 while eFilers will have until 22 November 2013 to get their returns done.
SARS will use the reconciliations submitted during the PAYE Filing Season to pre-populate individual tax returns with the tax certificate information received from employers.
Although the PAYE Filing Season ended on 31 May 2013, employers who have not yet submitted their reconciliations and tax certificates should still do so, not only because they are obliged by law to comply with this requirement but also to ensure that their employees receive pre-populated tax returns. Individuals don’t always have sufficient knowledge to complete an income tax return properly and many don’t have the means to acquire the services of a tax consultant to assist with the process. The fact that the returns are pre-populated with tax certificate data submitted by employers, removes a huge burden from employees’ shoulders as they only need to complete additional information relating to extra earnings or deduction claims.
Pre-populated returns also mean less mistakes will be made when tax returns are completed and in turn, result in a quicker turnaround time on assessments and refunds.
SARS has evolved into a massively successful revenue authority by implementing the correct processes and improving service delivery and communication channels. We can only benefit from their success if everyone complies with their requirements.
Employers should make sure that, even if their reconciliations were not ready by the 31 May 2013 deadline, they still submit them before the start of the Personal Income Tax Filing Season.