Tax Season 2022 Now Open: Beware, This Year’s Deadlines

Few of us ever test our powers of deduction, except when filling out an income tax form.” (Laurence J. Peter)

In this article, we look at the who, how and when of this 2022 Tax Season; highlight some issues that require special attention; and suggest practical next steps to help you avoid the last-minute rush, the risk of errors and omissions, and the cost of late submissions, penalties and audits.

At a glance
Tax Season 2022 opens 1 July 2022 – here is a quick overview of who must submit, how they must do so and when by:

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Owe SARS a Tax Debt? Here Are Your Options

“Tax debtors are expected to take responsibility for their tax obligations and to organise their affairs in such a way as to be able to discharge those responsibilities when required. They should give at least the same priority to tax obligations as their other responsibilities.” (SARS’ Short Guide to the Tax Administration Act)

To avoid tax debt, penalties and interest, it is best to file returns and make payments on time. However, for a range of reasons, taxpayers may not be able to meet these requirements on time, finding themselves facing a tax debt owed to SARS.

There are different ways in which tax debt can arise, and while the taxpayers’ agreement and ability to settle this debt will determine the details of each taxpayer’s response, all tax debts should be handled the same way: promptly and with professional assistance.

If you or your company have any tax debt, take action without delay! In certain circumstances and with the right professional assistance, an agreement may be reached with SARS to defer the tax debt for later payment or for payment by installments.

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