Bay Accounting Services

Good morning. Time is running out. Deadline for non-provisional taxpayers is 20 October 2025. Please get your taxes in on time. SARS is not playing around with the monthly penalties.

Also if you think you don't need to submit a return because you earn too little, just remember if you changed jobs during the tax year, you are considered to have had 2 employers and are obliged to submit a tax return.

Have a good day and week.

Auto Assessments are coming through furiously. Is there a reason you should keep your tax practitioner?

Yes there is.

Firstly they need to check that everything has pulled through. SARS is not going to allow you those medical expenses a year later because you only then realise your medical aid didn't pull through.

There are many scams out there - you need to be sure if you get correspondence from "SARS" that it really is SARS. These scammers are getting pretty clever and it looks so real. We as tax practitioners know the difference.

You may have an auto assessment now and you think everything is hunky dory so you don't have to submit anymore, but what if SARS doesn't do an auto assessment next year or the following and you think all is okay, you don't have to submit anymore and when you look again there is an admin penalty account of a few thousand rand.

Stick with your tax practitioners and pay that small fee to give yourself peace of mind when it comes to your tax matters.

Filing Season for Individuals

Income Tax return filing dates :

Auto-assessments: 7 – 20 July 2025

Filing season opens for non-provisional taxpayers who were not auto-assessed: 21 July – 20 October 2025

Provisional taxpayers: 21 July – 19 January 2026

https://www.news24.com/fin24/economy/godongwana-to-suspend-vat-increase-20250423

Excellent news!

Godongwana suspends VAT increase | Business Finance Minister Enoch Godongwana has announced the withdrawal of the proposed VAT increase of 0.5 percentage points.

https://businesstech.co.za/news/business/798423/warning-to-businesses-in-south-africa-major-deadline-hitting-this-month/?fbclid=IwY2xjawGX26hleHRuA2FlbQIxMQABHfubousmLRB9x2IJNLtO74-M4MgM5_9l_QQm7Dl1Yg7dZFkdu4w_8VMB0g_aem_r2SYrikC5q71MMhibJqU0w

Warning to businesses in South Africa – major deadline hitting this month South African business owners are being cautioned about CIPC compliance, and a critical deadline is coming at the end of this month.

Good morning. SARS deadline for the 2024 non provisional taxpayers is Monday 21 October 2024. Please submit by then. SARS is just waiting to raise penalties. And remember these penalties are recurring monthly.

Good morning. Please be careful of the latest SARS scam.
Things to look out for:
1. There is no valid SARS reference number
2. SARS does not specifically tell you to pay into an FNB Account
3 Email address for payments - [email protected] - is not a valid SARS email address.
4. Also check your emails properly to see where the email comes from. Even when it says SARS - double click on the address and see the actual email address it is coming from.

Good morning. Tax season opens on the 15th of July. Please bear in mind that we can claim for solar panels if installed from 1 March 23 to 28 February 2024. If you receive an Auto Assessment please act quickly before it slips your mind. If you then want to submit a year later it is too late. And you lose your rebate. Here is what you will need to claim: