Aligning the 40 Business Days Rule

The 40 business days for revising auto-assessments now align with the filing due date for non-provisional taxpayers (23 October 2023).

Payment Due Dates

Non-provisional eFilers have a payment due date of 30 days after receiving a notice of assessment. Auto-assessed taxpayers have the same deadline, which is 30 days post Filing Season 2023 closing date.

Statement of Assets and Liabilities

Provisional taxpayers with business interests must declare assets and liabilities based on cost. Assets above R50 million require market value.

Foreign Income Disclosure

New fields for declaring income received from foreign employment services, subject to tax outside RSA, and exemptions for worldwide foreign income.

Spouses Married in Community of Property Assessment

Taxpayers married in community of property are taxed on half of their interest, dividends, rental income, and capital gains.

Section 93 Reduced Assessment

Automated process for requesting Reduced Assessment under section 93 of the Tax Administration Act using the RRA01 form on eFiling.

Public Notice 3540 in Government Gazette 48788 relates specifically to income tax returns to be submitted by a person in terms of Section 25 of the Tax Administration Act 28 of 2011. It was promulgated on 14^th June 2023.

2023 year of assessment is defined as the period of 12 months, ended on 28 February 2023, that is from 1 March 2022 to 28 February 2023.

2. Who must submit an income tax return?