SARS late income tax return

goocreations

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I've received my tax return form on the 19th of November (via SARS eFiling). It indicates that the due date is 23 November 2012. My previous employer is still busy filing all necessary data and will probably not finish before the 23rd.

If I file my tax return form late, what will happen? Will I loose the tax return money?
 

Billy

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Feb 8, 2004
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Ask for an extension due to your employer not complying with tax regulations.
 

Billy

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Best to go to SARS as you are pushing the time limit. I have previously written and hand delivered. Not sure if there is a way to do it online.

You could try phoning, I have generally found them helpful. Make sur you get a reference number.
 

AnimateX

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10% of what? I was under the impression that it's R250 for every month late.
 

AnimateX

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If that's total taxable income then that seems a little steep, about a whole months salary. Or am I not understanding correctly?

I'm in a similar pickle. Did you ask about an extension, are they willing to accommodate?
 

goocreations

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Th lady couldn't help me with an extension. But as far as I understand it, it's 10% of the tax return. Eg if you get R5000 back, you get a penalty of R500 - and yes it's a bit steep. I only received the form on 19 Nov (without any notification) and then they only give you 4 days - what if I'd been on a business trip?
 

Billy

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They should be penalising your employer for late submission of your information.


Go to sars with all your information.
 

goocreations

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Yes, it's not my fault. But I won't be able to go to SARS before Monday. But this is SA, most of us are used to crap like this.
 

AnimateX

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Cool, thanks for the info.

I'm struggling to get IRP5s out of my previous employer so I'm going to have to go to SARS tomorrow morning and see what I can do.
 

ClintZA

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...

Q: What penalty amounts are prescribed in the schedule of penalties?
A: The amounts in column 3 of the table below are the fixed amount penalties that may be imposed, and the amount will depend on the category of the taxpayer as determined by his or her taxable income for the preceding year of assessment. If the taxpayer is in an assessed loss position or his or her taxable income for the preceding year is not known SARS may impose a penalty of R250 or estimate the taxpayer’s taxable income based on available information.

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Q: Exactly how will these penalty amounts be levied on a non-compliant taxpayer?
A: Once the penalty amount has been determined according to the penalty table, the taxpayer will be notified in the form of a Penalty Assessment Notice that will be sent to the taxpayer. The ITP34 serves as the final letter of demand. The taxpayer then has 30 days to pay the penalty. If after 30 days, the penalty is not paid, the penalty amount will automatically increase by the same amount for each 30 day period that the returns are not submitted. The due date for payment will be indicated in the Penalty Assessment Notice and failure to pay by such date will result in the levying of interest on the penalty amount and SARS will be entitled to take collection steps without further notice.

http://www.sars.gov.za/home.asp?pid=52279
 

Mbuzi

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You can file your return as is, then as soon as your employer is done then you can lodge an objection/correction. This way you will avoid penalties
 
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