Changes to the 2020 Tax filing season

Courtney is our senior tax assistant promoted from Junior to Senior assistant in mid-2019. She got engaged to her partner in December 2019 and they look forward to tying the knot soon.

Gillian a long time Marwick employee starting her career here and dedicated manager to the tax department. She is a wife to a twin, and she is the mother of 2 beautiful children.

Adeela joined the tax department on the 18th November 2019 appointed as a junior tax assistant. It’s 1 year since she has joined the team and looks forward to many more years with Marwick & Company.

The tax department would like to share a few important updates:

Deadline for individual provisional payer’s tax returns 2020 – 29 January 2021

Our team compile your IT12 tax returns, we generally require the following documentation in order to verify the existing, pre-populated information that appears in the return, as well as to complete any remaining portions:

  • IRP5: This is the employees’ tax certificate your employer issues to you.
  • Certificates you received for local interest income earned.
  • Any other documentation relating to income received or accrued, such as remuneration that has not been reported to SARS by your employer, or business or investment income, etc.
  • Details of medical expenses paid, and medical scheme contributions made.
  • The relevant certificates reflecting your retirement annuity fund contributions made.
  • A logbook and other documents in support of business travel expenses (if the travel allowance is part of your remuneration or if you have the right of use of a company car taxable benefit).

As some of you are already aware, SARS have made a few changes and one of them is the issuing of printed tax clearance certificate (TCC) this was stopped from the 02nd November 2019. SARS now issues the tax compliance status (TCS) which enables clients to authorise any third party to view your status online using the PIN provided.

Instead of SARS appointments getting easier it has just become harder since COVID-19 SARS has now implemented a new option for appointments, either you select VOICE or VIDEO, if you choose Voice a consultant will call you the day before to find out what your appointment is about and if you are able to come into the branch or not, the same applies with a Video option. This new system also applies to tax practitioner.

So please bare in mind that we can no longer get an appointment for the same day or the next day, as time slots always seem to be taken and the waiting period for a new appointment is 1 week.

During this tax season, a new scam has been doing the rounds, SARS has confirmed, and we would like to make sure our clients are aware too.

The scam is sent as an email from SARS, of which might look extremely legitimate. These are emails sent from scammer whom are trying to trick you into sharing your personal details or to download a virus. Please be cautious with your personal information, rather click nothing and ignore the email.

For any reassurance, our tax team are available to assist with any misunderstandings and uncertainties.

Second Provisional Tax will be due 26th February 2021.

We will be sending out our information request letters for Companies/Individuals and Trust in the 2nd week of January 2021, so it gives our clients time to gather their information timeously. Our deadline to file all 2021 Second Provisional tax returns will be the 19th of February 2021.

Our Tax Department is always willing to assist our clients and go the extra mile. If you have any queries please drop us an email at tax@marwick.co.za and we will assist with your questions.

Like every opening to a new tax season, a few hiccups catch us a long the way and 2020 has been no exception and COVID-19 took us by surprise. Patience is a virtue especially when working daily with SARS, and like most government facilities, they can most definitely put your skills to the test.

And when it comes to waiting for feedback or responses our short answer is “quite some time”. You can imagine that during this unexpected time of COVID-19, SARS has extremely long delay during this filing season.

CONTACT OUR TAX DEPARTMENT FOR ALL YOUR TAX-RELATED NEEDS