SARS Filing Season 2020 - Page 4





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  1. #61
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    Default Re: SARS Scam?

    Quote Originally Posted by jelo View Post
    I have a few rules:

    - I don't self diagnose a sickness
    - I leave tax returns to people who have the training and knowledge: SARS isn't your chum
    https://www.moneyweb.co.za/mymoney/m...eid=ac92c684b5
    - I don't try and compare medical aid funds and their benefits, I use a broker
    Provided one is comfortable that your tax practitioner is competent and honest (which applies to doctors, insurance brokers and financial advisers as well, by the way), I fully support this.

    Obviously one doesn't go to the doctor with a grazed knee, likewise those in the category for whom SARS is trying to introduce "automatic assessments" don't need a tax practitioner either.

    I am an accountancy professional, and in theory more than capable of doing my own tax return. I nevertheless find it a very frustrating process, and one during which Murphy seems to haunt me! A bit like a lawyer not representing himself in court?

    What one must never do, though, is to feel you can shut it completely out of your mind, and think you can completely avoid accountability. As I used to remind my colleagues in corporate "Seek good legal advice, but don't forget that I have to sign the cheques for the consequences".

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  2. #62
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    Default Re: SARS Scam?

    Quote Originally Posted by jelo View Post
    I have a few rules:

    - I don't self diagnose a sickness
    - I leave tax returns to people who have the training and knowledge: SARS isn't your chum
    https://www.moneyweb.co.za/mymoney/m...eid=ac92c684b5
    - I don't try and compare medical aid funds and their benefits, I use a broker
    Seriously. I work for a salary. I have pension contributions (up until recently, I was on the (soon-to-be)ex-wife's medical as she had subsidised medical). So there is really nothing strange or weird with my income tax submissions. I do it myself. Honestly, I also did it myself back when I still did contract work. I've never thought it was rocket science...
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  3. #63
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    Default Re: SARS Scam?

    Quote Originally Posted by iandvl View Post
    Seriously. I work for a salary. I have pension contributions (up until recently, I was on the (soon-to-be)ex-wife's medical as she had subsidised medical). So there is really nothing strange or weird with my income tax submissions. I do it myself. Honestly, I also did it myself back when I still did contract work. I've never thought it was rocket science...
    I also used to do them back when it was paper work not e-filing. One of my other issues is procrastination. I was 3 years behind at one stage. Don't judge me.
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  5. #64
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    Default Re: SARS Scam?

    Quote Originally Posted by jelo View Post
    I also used to do them back when it was paper work not e-filing. One of my other issues is procrastination. I was 3 years behind at one stage. Don't judge me.
    Who am I to judge ?

    Procrastination is very important. Never do today what you can procrastinate on for tomorrow.
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  6. #65
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    Default Re: SARS Scam?

    Quote Originally Posted by iandvl View Post
    Who am I to judge ?

    Procrastination is very important. Never do today what you can procrastinate on for tomorrow.
    never procrastinate on for tomorrow that which you ignore all together
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  8. #66
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    Default Re: SARS Scam?

    Quote Originally Posted by mullerza View Post
    never procrastinate on for tomorrow that which you ignore all together
    precisely and then you get those nasty SARS letters: now my guy asks me for documents, I find them, he does his bit, I get money, he gets money, I support local, all good
    Jakes Louw
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  9. #67
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    Default Re: SARS Scam?

    Quote Originally Posted by cornel1610 View Post
    Did mine last night and immediately received assessment.

    Did SWAMBO's this morning and still waiting for her assessment. They need to refund her quite a substantial amount due to high medical expenses we had to pay last year. So not sure if that is why the assessment is taking longer.

    I also received an SMS (with a hint of a nice payout) last week but decided to wait, and not click on its link, in case it is dodgy.

    This past Monday (Aug 3rd) I decided to log on the SARS efiling web and found all my details in correct order and up to date, including my work's IRP5, medical aid, the new pension investment I created (a year back) and a bit more. Since everything was in order, and all amounts correctly categorised and item-ised, even the SARS payout that matches the value as mentioned in the SMS. I decided to accept it and immediately received - via email - an assessment.


    However, wife and I realised a bit too late that we forgot to update it with wife's medical expenses (last year). However, I am the main principle of the medical aid, therefor it should have been edited/updated on my own SARS with these extra medical expenses.

    Now what? Any advice?
    Can it be added to wife's assessment? She has yet to do her assessment.
    Last edited by GroenHoender; 2020/08/04 at 11:24 AM.

  10. #68
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    Default Re: SARS Scam?

    Quote Originally Posted by jelo View Post
    precisely and then you get those nasty SARS letters: now my guy asks me for documents, I find them, he does his bit, I get money, he gets money, I support local, all good
    and I support that 100%, my only point was you are paying for a service he supplies, not because he can get you a bigger refund
    Anton Muller
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  11. #69
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    Default Re: SARS Scam?

    Quote Originally Posted by mullerza View Post
    and I support that 100%, my only point was you are paying for a service he supplies, not because he can get you a bigger refund
    and I never said that, all I said was the chances of getting a refund if he does the filing is much higher
    Jakes Louw
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  12. #70
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    Default Re: SARS Scam?

    Quote Originally Posted by GroenHoender View Post
    I also received an SMS (with a hint of a nice payout) last week but decided to wait, and not click on its link, in case it is dodgy.

    This past Monday (Aug 3rd) I decided to log on the SARS efiling web and found all my details in correct order and up to date, including my work's IRP5, medical aid, the new pension investment I created (a year back) and a bit more. Since everything was in order, and all amounts correctly categorised and item-ised, even the SARS payout that matches the value as mentioned in the SMS. I decided to accept it and immediately received - via email - an assessment.


    However, wife and I realised a bit too late that we forgot to update it with wife's medical expenses (last year). However, I am the main principle of the medical aid, therefor it should have been edited/updated on my own SARS with these extra medical expenses.

    Now what? Any advice?
    Can it be added to wife's assessment? She has yet to do her assessment.


    Groenhoender.

    You should be able to do a "Request Correction" on e-filing.

    But it will only influence your tax if the private expenses paid exceeds 7.5% of your taxable income (Income after deductions like provident fund and retirement annuities).

    So if your taxable income was R300k for example you will only get additional refund if your expenses was more than R22.5k for the year. And that refund will then be 25% of the amount exceeding the R22.5k.

    So maybe first check if the above scenario is true before you do the correction. Otherwise they will audit you and you'll have to wait longer for your refund.
    Last edited by cornel1610; 2020/08/04 at 12:40 PM.

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  14. #71
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    Default Re: SARS Filing Season 2020

    I received a email from SARS probably 3 weeks ago already stating that they can't do a auto assessment and that I'll have to manually do it. My tax guy confirmed this and said he anyway doesn't like the auto assessments since more often than not you practically have to redo the entire thing anyway.

    I have to submit 2 IRP5's for the year and I'm still waiting for both of them, I'm actually already reading up on what to do if I don't get them from the employers.
    It's in pubs where the world's greatest ideas begin.

  15. #72
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    Default Re: SARS Filing Season 2020

    Filled in all my data on the efiling system this afternoon. IRP5 info already correctly recorded, and so was all the medical aid stuff. One IT3b for R15 had not been included, so I added it in.

    Had to capture the investment portfolio income manually, but I guess it will be a long time before they are that sophisticated.

    Now comes the questions for the tax boffins, because I got two surprising results when I ran their test calculation.

    1. Foreign dividends are usually multiplied by a factor of 20/45 to determine your "taxable profit" thereon - that's what worked last year and as far as I know there has been no change for 2020 filing season. But my inclusion this year was close to half of what I was expecting.

    2. There was an amount of R1.6k for "Additional tax". I have no idea what that relates to. I did underpay my provisional tax in February, but only because my CGT estimate was badly out. So if that additional tax is actually a penalty, then I understand. But I would expect that to have been disclosed as such?

    Any constructive observations?

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  16. #73
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    Default Re: SARS Filing Season 2020

    When is this tax season running from Feb 2019 till March 2020??
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  17. #74
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    Default Re: SARS Filing Season 2020

    Quote Originally Posted by hunter26 View Post
    When is this tax season running from Feb 2019 till March 2020??
    01/03/2019 - 29/02/2020

  18. #75
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    Default Re: SARS Filing Season 2020

    Got the sms. Decided to install the app which is actually easier to use than the website.

    Added my travel cost, updated and submitted and 2 days later had my payout. Nice. At least we seem to have 1 first world state operation.
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  19. #76
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    Default Re: SARS Filing Season 2020

    Quote Originally Posted by spicydave View Post
    01/03/2019 - 29/02/2020
    Many thanks
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  20. #77
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    Default Re: SARS Filing Season 2020

    Added my travel details and submitted on Friday, money was in my account yesterday morning.
    n' profeet word nie in sy eie land geken nie!

  21. #78
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    Default Re: SARS Scam?

    Quote Originally Posted by Howie-WP View Post
    Also received SMS yesterday. Nice refund due.....however I have a question...

    How do I go about reflecting income received via a temp contract I had as an independent contractor / part time work?
    I obtained advice from Tax Practitioner on another forum and updated my auto assessment accordingly. Did recalc and about due to me went from substantial to decent. Rechecked everything and submitted Wed @17:00, refund in bank account this morning

    Next year will be easy as I am unemployed .....

  22. #79
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    Default Re: SARS Filing Season 2020

    Authenticity of Auto-assessment messages and accuracy of the amounts shown

    Are you unsure if the message you received is from SARS?

    If you have received an SMS that tells you that you have been auto-assessed by SARS, and you are unsure if this message is genuine, please log into your eFiling or SARS MobiApp to verify the auto-assessment notification.

    Where the tax amount on the SMS and the tax amount on the auto-assessment on eFiling is not the same, this simply means, new 3rd party data arrived at SARS in-between the time that we populated the SMS and the time that you logged into eFiling or MobiApp and viewed your proposed auto-assessment. The amount shown on the proposed auto-assessment on your return is the correct amount at the time that you logged into eFiling and viewed your proposed auto-assessment.

    Remember, SARS will never request your banking or personal details in any correspondence that you receive via post, email or SMS. SARS will not send you hyperlinks to other websites - even those of banks.

  23. #80
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    Default Re: SARS Filing Season 2020

    What just happened..??..

    Swambo and I are Provisional tax payers, none of our income is captured on an IRP5 ..

    During the 2020 tax year we sold our primary residence which attracted no capital gains tax, however the details thereof needed to be captured on the CGT portion of the return, first time ever that I have needed to venture into the CGT subsection..

    We also sold our secondary premises - (house used for office) - which too attract no CGT since I lost my shorts on that one, but once again the necessary details thereof needing to be captured..

    I then sold a financial investment of mine in order to subsidize the purchase of our new home, somewhere around October last year, it did attracted CGT, and the necessary details thereof needing capturing on the return..

    I completed the 2020 returns considering all the above last week Thursday, resulting in a small return calculation result of around R15K for me, R11K for SWAMBO

    Friday, next day, monies are in the bank, did not even get a chance to wipe the sleep out of my eyes.....

    Cannot argue with this, half expecting an audit to be called and all my accounts frozen...

    Sh1t that was fast...
    Last edited by Marcochezzi; 2020/08/17 at 08:14 AM.
    Regards - Marco Chezzi

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