2024 Tax Deadline for South Africa:
On that day, taxpayers in South Africa had to complete and submit their tax returns to the South African Revenue Service (SARS). Taxes for individuals are due on March 1 and must be paid by February 28 or 29 of the subsequent year.
If your primary source of income is not a salary, you must register as a provisional taxpayer and pay taxes according to that source. To avoid penalties, responsible individuals must keep track of their South African taxes and know the necessary filing deadlines. To file your taxes correctly and on time, you should read this page to learn all there is to know about the South African Tax Deadline of 2024.
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Income tax in South Africa:
South Africa imposes income tax on the worldwide income of its inhabitants, with some exclusions and allowable deductions. Appropriate relief is offered to avoid double taxation for specific overseas individuals. Since March 2020, South African tax residents who earn more than R1.25 million annually from work abroad are liable to taxes in South Africa.
The South African Revenue Service (SARS) collects income tax in South Africa. This money goes toward paying for public goods like healthcare. Nevertheless, taxpayers pay their taxes via the Pay As You Earn (PAYE) approach. With this arrangement, taxes are subtracted from your monthly paycheck and refunded at the end of the tax year.
- Nation: South Africa
- Payment of taxes to the South African Revenue Service (SARS)
- Due date for taxes: February 29, 2024
- Title of Tax Return: Form ITR12
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When is the Deadline for South African Tax Filings?
Those who earn ZAR 30,000 or more annually from sources other than remuneration or those whose taxable income is above the tax threshold are considered provisional taxpayers. They must submit temporary tax payments every year on August 31 (first payment), February 28 (second payment), and September 30 (third payment).
Because of this, Provisional taxpayers will be required to file their yearly returns for taxation and pay taxes on any income received between March 1, 2022, and February 28, 2023, by July 7, 2023. From July 7, 2023, to October 23, 2023, non-provisional taxpayers must file annual income tax returns.
Provisional filers would have already paid their first temporary tax payment for the 2023–2024 tax year by August
31, 2023, was the deadline for half of the year’s estimated tax. By February 29, 2024, the second tax payment is due to cover the entire year’s estimated tax balance. If a person’s total income for a tax year is less than ZAR 500,000, they are excluded from submitting a tax return (subject to specific restrictions). This applies to both residents and non-residents.
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How Do Taxes in South Africa Get Filed?
If you work in the nation, even if your employer deducts your SARS income tax payments from your salary, you still have to submit an annual income tax return in South Africa. In South Africa, the individual income tax return is called Form ITR12. You will require information on all types of income, allowances, and deductions you report on the form, as well as your bank statements, tax number, and employee tax certificate (IRP5/IT3a).
Registering and obtaining a SARS income tax number is a prerequisite for filing taxes in South Africa. Learn how to apply for South African social security if your employer doesn’t handle this.
Once you have your SARS income tax number, you can file your tax return on paper or electronically. The form is accessible in hard copy at the SARS office in your community. In South Africa, filing an Internet tax return requires first registering for eFiling.
South Africa’s current tax year runs from March 1, 2023, to February 29, 2024. The tax season, during which people must submit their income tax returns, typically spans from July to November, depending on how taxes are paid. You should check the SARS website for the most recent tax deadline.
