Tax Season 2013 is now closed for all non-provisional taxpayers. If you submit your Income Tax Return (ITR12) after the deadline you are liable for an administrative penalty for non-compliance. The penalty amount imposed depends on a taxpayer’s taxable income and ranges from R250 up to R16 000 per month for each month that your return is outstanding. And if you don’t pay the penalty the law allows SARS to deduct the penalty from your salary or bank account.
To see if you have any penalties owing to SARS for outstanding returns or owe any other amounts, request a Statement of Account via eFiling or at a SARS branch.
According to Government notice 35733 published on 1 October 2012 a natural person will only be liable for a fixed amount penalty if that person has two or more income tax returns outstanding meaning that one outstanding return will not attract a penalty. Does this still apply because I cannot find another notice overiding this one?
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.
MINIMUM REQUIREMENTS TO REGISTER
The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.