FISA received three communications from the South African Revenue Service (SARS) about training videos for tax exempt institutions, 2024 filing season for personal income tax, and 2024 filing season dates for trusts.
Training video communication
“Good day Valued Taxpayer and Stakeholder
We trust you are well.
The TEI Segment published the below as additional assistance for our valued taxpayers and stakeholders to assist them with the submission of IT3(d) data to SARS.
- EI Connect 5th Edition – IT3(d) Special Edition
- IT3(d) FAQs
- How to activate the IT3 for third-party data on eFiling
- How to Complete and Submit IT3(d) on eFiling
- Public Notice 3082 on the section 18A enhanced reporting requirements
- Public Notice 3631 on the submission of IT3(d) third-party data submissions
- Binding General Ruling 71– Section 18A Receipt: Donation of Property in Kind; and
- Binding General Ruling 70– Issue of a Single Section 18A Receipt to a Donor Taxpayer for Multiple Bona Fide
Please feel free to share the above information with your networks.
Tax Exempt Institutions (TEI) Segment
Email: TEISegment@sars.gov.za“
2024 filing season dates for personal income tax (PIT)
“Dear Valued Stakeholder
Kindly note of the attached notice containing information on the 2024 Filing Season for individuals and share widely with your members.
The information was also published on the SARS website:
With warm regards
Karin Smit
Corporate and Professional Bodies”
2024 filing season dates for trusts
“Dear Valued Stakeholder
Please note the important message below to be shared with your members.
- Postponement of the opening date for Trust filing: – Due to competing priorities SARS had to move out the opening date of the Trust filing season. As a result, the legislative amendments will now be implemented on 13 September 2024 and not in June/July 2024 as was originally planned. Please take note that this is a once-off change to the filing season and that it is currently anticipated that, for the 2025 year of assessment, we will revert back to the June/July opening date for filing. The opening date for submission of returns is thus 16 September 2024 and the 2024 return will not be available prior to this date.
- Beneficiaries who are non-provisional taxpayers: – It is SARS’ opinion that this amendment will have no impact on beneficiaries who are non-provisional taxpayers as the submission dates for these beneficiaries (should they be individuals) remains the same as in the past. The population of these beneficiary returns will thus be dependent on the effective communication between the trustees of Trusts (or their representatives) and the beneficiaries of these Trusts. Take note that SARS will not, for the 2024 year of assessment, pre-populate beneficiary returns from the IT3(t) data submitted. As is practice, with new third-party data returns, SARS will use this IT3(t) data for testing and risk identification purposes.
With warm regards
Karin Smit
Corporate and Professional Bodies”