What is a SARS auto-assessment ? || Why did I get auto-assessed and where is my tax refund?
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- čas přidán 5. 07. 2024
- It’s tax season again ☺️ and even though this may bring a lot of anxiety to some of you, relax. SARS is trying to make this process a bit better hence so many people are getting auto-assessed.
In this video I’ll cover the following 🕰️:
01:15 What is an auto-assessment
01:52 How Does SARS get the numbers they use for art-assessment?
02:36 What should I do if I have been auto-assessed by SARS?
03:23 What if my auto-assessment is wrong / I want to make adjustments to my SARS auto-assessment (03:11)
04:16 How do they choose people to auto-assess?
05:30 Who should make adjustments to their auto-assessments?
06:31 When is the deadline to make adjustments / to file your taxes?
FAQs
07:13 What app do I use to reject or accept my SARS auto-assessment
07:25 Where is my refund?
08:12 How do I change some of the numbers on my tax return
09:00 Can I pay someone to do my taxes
09:34 What happens if I don’t pay my taxes?
10:47 How Do I pay taxes on my side hustle / side business / influencer income?
11:50 Action Steps : Now What (To-Do-List)
#TaxRefund #SARS #HowToFileYourTaxes #PersonalFinance
⚠️ Please remember these videos are not financial advice. They are for educational purposes only and I cannot provide advice for your circumstance. Please seek a registered tax practitioner to help you with taxes if required.
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WATCH THESE VIDEOS NEXT:
💡 My Tutorial of how to file taxes 🔗 • HOW TO SUBMIT YOUR SAR...
💡My video on how refunds are calculated 🔗 • WHY didn’t I get a tax...
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Available tools for you:
🔹 SARS website 🔗 www.sars.gov.za/individuals/
🔹 SARS CZcams Channel 🔗 / @sarstax
🔹 Check your auto-assessment status 🔗 tools.sars.gov.za/sarsonlineq...
🔹Online calculator for estimated refund 🔗 www.taxtim.com/za/calculators...
🔹 Registered Tax Practitioners that could help you:
〰️ TaxTim 🔗 www.taxtim.com/za
〰️ Andre Bothma (via Twitter) 🔗 andrebothmatax?s=21
Goodluck ☺️. Remember the goal is to be COMPLIANT 🏆.
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Subscriber count: 96 719 🤟🏾✨
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I don't think you understand how much your channel helped me, many black young professionals or newly graduated students, or recently hired professionals don't get the financial education that we need - to make informed financial decisions. You are doing the Lords work, and I hope this channel reaches as many people as possible...
If you do a video on reading and understanding an iRp5, it would be so helpful.
Yes Yes Yes Pleeeeease !!!!
It's basically all the money your employer pays to SARS. Broken down
@@bensenzo i hear you but I want to be able to read the paper and understand what it says to me, you telling me what it basically says is not teaching me how read it with understanding or giving me an understanding hence my request in the first place.
@@melusisikhakhane6949 You can download the tax guide it has a breakdown of what the SARS IRP5 codes mean
@@nicolamaseko4909😅
BE CAREFUL OF TAX SCAMS ⛔️
hey guys there are a lot of scammers sending false smses right now telling you you have a refund. Please be careful
⚠️ Do not click on any links via sms
⚠️ Do not submit any card details on websites
✅ Log in via official SARS efiling website secure.sarsefiling.co.za/landing to check your refund / auto assessment status OR
✅ Download SARS MobiApp on google play store / AppStore to check your status
Any refund you receive does NOT require you to first pay anything.
Not everyone will receive a refund.
Contact SARS for any assistance (not me).
hey just wanted to say that you are a life saver,amazing video 👏👏👏👏👏,thank you very much for this.can't wait for the updated one on the numbers to put the amount next to. great work that you are doing. 🙌🙌🙌
These are so informative! Thanks Nokuhle!😊
Thank you so much for all this information. Your time and all the effort you put into this is highly appreciated. ☺☺☺
Thank you Nokuhle! Just the advice I needed!
So clear and informative you've just a subscriber 😊💯
You're truly amazing for this video 🤞🏽🌼
You always come through for us. Thank you❤
You always share invaluable info lady. Thank you.
Finally some informative content in my recommended!!
Can you please make a video on how to keep track of your expenses and income (as a provisional tax payer) to keep it easy for returns, and how to do the return? 🙏
Damn. .. concise and too the point. I'm a fan❤❤
You are fanstastic. So glad I found you. This is an important service you are offering.
Awesome. Thank you. 🙏🏾
Looking forward to the video. I was not selected to get auto assessment coz apparently I have additional information. What information !! Yho hai
Awesome, informative videos ❤
Thanks my dear. This was very helpful❤
Great informative content ,thank you.
Thank you so much, this was helpful ❤
Thank you so much for this video, its so informative
You’re heaven sent ❤
Thank you for this mama❤
Thank you so much cc
This is helpful. Thank you
Thank you Nokuhle
Very insightful
Thank you so much 🙏
You are really helpful ❤
You're a lifesaver ❤😘
Thank you.
Thank you for this content. I've already subscribed! I was just telling a friend recently that this is the knowledge that needs to be taught in schools. How do we get you in contact with Dept. Of Education? 🤔
Thank you❤
Please do a detailed video on how forex traders/influences/ self employed people can go about taxes
Thank you
Hi Nokuhle, I've heard that if you have a retirement annuity from a 3rd party chances are you'll get a refund. Is that true and if so how does that work? Also overtime which is already taxed does that affect your tax bracket
Hello Nokuhle, thank you for your video, it is much appreciatted. What do we do if the Bank details are incorrect on the auto-assesment?
Your video is straight forward. I will subscribe to your channel
I did receive email about assessment. Thank you 🙏
Thank you sist Kumalo
Beautiful you are a life saver. Quick Q...Is it 72 business hours or 72 normal hours for the refund to be paid? I received the notification of Friday evening.
Hey. Informative video. I have a little question, I have medical aid my saving depleted and I paid cash for my medication. The pharmacist gave me a piece of paper and told me to use it when filing for my tax, when do I submit this if I'm auto assessed
Super insightful !
Thank you very much. When I see SARS sms's I panic.
Question, I live in a house with friends, we split the rental equally and they transfer their portion of the rental to me which I then in turn pay to the agency managing the property. Does this need to be declared and if so how would I do it?
I havent opened a company, I just purchased a swiping machine to swipe and they said I must record this as a sole proprieter &give my hustle a name. And only did one job selling food. Do I need to declare? I was charged a tax &have tax certificate,
If I submit this will it increase my tax or I will get a discount
Hi Nokuhle, thanks Sis for the video, very helpful..... last period they rejected my Sars filling , n Now for this period an auto assessment was done, they want me to go to the branch to sort out last period. Can I go this week or only when they open? Do I just walk in? Thanks
S/o to you Mam❤
Hi, very helpful video thank you. Does 1 have to upload documents of a money maximizer account as well?
Your bank will forward your interest earnings directly, which will be taxed for that period
Dope
So wish I can get a guide from the beginning of e-filing
THANK YOU VERY MUCH🎉🎊, I ENJOY AND UNDERSTAND YOUR CONTENT , PLEASE I HAVE BEEN REQUSTED A VIDEO TO HELP US CZcamsRS ON OUR TAX PLEASE
It worked as you said I got the refund although I would have preferred it to be sent to a different bank account
How can I change number i want to check my Self if am not assessed
As stated in your video that if you haven’t worked a full tax year you could get a refund. This is the case with me. I was worried that SARS made a mistake and that I should be cautious about using the refund money. Could SARS come back in the following year and claim back that amount?
Thnk you
😍
Keep up the videos. Listen to the people in the comments. They will help you to become the Tax Doctor 😀
Hi when do u know if u are paying more tax
Hi Nokuhle, i received 2 semses " A Statement of Account has been issued on SARS eFiling" But nothing is showing when i click 2024 returns. It displays the message "you will be able to retrieve on the 15th July"
Good morning Kuhle 2016 the company i was working for decided to close shop everything went well in term of my funds that was due to me, went to SARS i was owing about R 1000 which was deducted, year after i got another job it's been 5 years working every year i submit my rp5 till this auto asses which i also log on and follow prompt, but i never get refund or owing tax, just want to know if it's like that is my tax correct ?
Is it true that I can claim the money I spent if I traveled overseas during the year
Please help me. I am in the app trying to locate where I can dispute or reject this assessment, but I can't find it.
Please explain where exactly on the app or website I go to see whether I owe or not. Please because I have checked assessment status, but it does not give me that information.
Speaking of rental income, do you declare the entire amount you received or you have to minus expenses like maintenance on the rental units?
Gross rental income is declared before any deductions. Your expenses are deducted separately. This is because some expenses may not be deductible so, so they will ‘look’ at them separately.
If my bond is 8000 but my rental is 5000 , I pay the rates as well . Do I still need to declare this?
@@tarakimlayman
Credit goes to the video poster for her content. She will respond to questions but since I had already jumped in, i’ll just answer you here then bow out.
Rental income you receive will be included in full as Gross income. So you must fully declare that.
Your bond repayment will not be deductible as SARS will see it as capital in nature. Meaning, this will not be seen as a deduction expense, SARS will not agree to that, so you don’t need to include it.
You can however, include the interest you paid on your bond as a deduction, SARS would permit this as a deduction.
You can include your rates as a deduction.
If you are paying an agent to manage that rental property, you can include the amount you pay the agent as a deduction.
SARS auto assessment said I owe sars over 14000. Last year they made me pay over5000. question is how do I get to owe so much tax when I got only one source of income and my expenses are taxed through my employer?
Get yourself a consultant
Do you have taxable benefits such use of motor vehicle or a travel allowance?
Please help, can I upload documents ( ID, bank statement) without IRP 5 since am not longer employed?
Please explain "playing with numbers"
Falsifying information (defrauding SARS) 😂. Not to be done. Their arm is too long
Why would it say, you some return but it say awaiting approval, what does this mean?
Hey can you please explain how this situation works. I have two incomes coming into 2 different banks. SARS Is Auto assess 1 income. Is it possible to submit both banks coz i pay tax twice .
MaKhumalo I had a paye R5k+ in my auto assessment but, there was R0.56. So I don't understand, please help!!
Thank you so much, I have a question though. Are you reachable on any platform for a dm?
I have changed my banking details a day after the mail via the e-filing website after a day of receiving an email that I am being auto assessed , so my question is will they pay to the new bank account?
Thank you so much for the video. It's very helpful. How can I change my phone number if I dont use the phone number anymore?
I think it's best to contact SARS on that one, I'll contact them Monday because I've changed number and email
You can change your number in the website or sars app guys
@Solwazi918 haven't seen that option the only way got assisted was phoning SARS and with me it was both number and email and they said within 3 working days it will be done
How @@Solwazi918
So what is a statement of account based on?i received an email from sars too
Hi i received an sms on Friday ,so i want to know 72 they are talking about working hours or?
If you're unemployed but paying for a medical aid and you're charged levies through out the year, can i be auto assessed
Is it possible that I can calculate my PAYE,if yes than how?
But if the bank account is closed, how can you say somebody else will get lucky ? Can a closed bank account be allocated to someone else ?
This is innovative of SARs, but still, it's SARs, a billion things will definitely go wrong.
They've been doing it for a few years now. It's not like its a trial run
Liked and subscribed.
11:10 if you are getting rental income in your personal capacity what landlord costs can you offset before tax? Agency fees/commission for letting & managing property, maintenance, rates on the value of the property or levies in the case of sectional title, mortgage interest? Can you offset any acquisition costs if it was a buy to let property? If you have covered this elsewhere please kindly redirect.
Acquisition costs are not deductible however they are added on the base cost of the asset you can read more on this here www.sars.gov.za/types-of-tax/capital-gains-tax/assets-subject-to-cgt/base-cost/
How long does it take for account details to be verified after changing the banking details
For me they said they had incorrect bank details therefore i need to upload my bank statement on my efiling. Its been 2 weeks of waiting 😭 when i check it says documents uploaded
Please add bookmarks
I’ve been getting correspondence from SARS for 3 years now. I paid them R5000+ to settle what I owed, but I still keep getting the correspondence and now it’s back up into the thousands. I don’t know what they want or what to do. It just keeps increasing
Have you considered going to your nearest SARS branch to make enquiries 😊
Hey so If you shot by few rands, how can you fix that and if your refundable status reflects a - sign but you've been paying your taxes since the company does it for you? How do you fix that coz I feel like this Sars thing is big BS.
A -R2000 (example) means that sars owes you a R2000 refund. If it’s R2000, it means you owe them the R2K. Hope this helps
What must I do if I want to update my cellphone number en banking details
I have 1 Q to ask, if SARS does an auto assessment and statement shows a refund to you from SARS for 2024 assessment, how long do they take to action the payment. I think the auto assessment is running till the 15th July 2024. If you have changed your banking details and your old account on your SARS profile is closed, do u know the process to add the new banking details ?
Ok so i got a refund but i dont want it will the money stay there or what happens
Hey Nokuhle. If I gamble and win for example R1 000 000.00 do I have to pay tax on that?
Lol yes!!! Or else you’ll be in for a surprise. Someone I know won forex money and now he owes SARS
@@kamogelomononyane663I hear it’s different with lotto is that true
@@kamogelomononyane663 oh dear
Can i also declare rental as a pensioner, becausebi also receive my dividends every month?
I meant do I
And what will happen if I consider this to "constitute financial advice"?
Is like saying my CZcams video does not constitute a tv programme.
how do you know if you get a refund
In that 72 hours waiting period... are weekends considered?😅
No
😂😂😂😂
SARS once paid me on Saturday so its possible.
Dl@@aprilmotau-pm6gr🎉
Good question😂😂😂 Auto-Assessed on Thursday, been waiting 😩 I guess weekends are out ke! Or perhaps lemme wait, we shall see😅
My title at Sars is written as Mr. and I am Ms. How do I change it?
Hey ❤
I have always owed sars. For the past 2 years I've been automatically assessed and even with that I owe. Please advise what may be wrong? I have 6 dependents on my medical aid and I work for govt . Please help
Hi Nokuhle, I currently live and work in the UK and have been selected to be auto-assessed, is there anything I need to do?
On your auto-assesment, is your income calculated?
What happens if I am no longer employed with sars
So sars receive tax certificate from our medical aid and old mutual ?
Same to me.