With tax season in full swing, it is important to ensure that you are compliant and know your status, particularly if your circumstances have changed. In some instances, South African tax residents are not required to file a tax return.
"This will likely apply to normal salaried employees whose only source of income is their salary," explains Ruan van Jaarsveld, tax manager at. If you are younger than 65 years old, the tax threshold is R87 300 p.a.; if you are 65 years of age to below 75 years, the tax threshold is R135 150; and for taxpayers aged 75 years and older, this threshold is R151 100.
Van Jaarsveld looks at the circumstances in which an individual is not required to file a tax return. Individuals are NOT required to submit tax returns if their gross income consists solely of one or more of the following categories of income:2. Amounts received or accrued from tax-free investments;b.
Fin24 Thanks to black power appointed Tom Moyane, SARS lost all their records & ability concerning taxpayers that 'fly & operate under the radar' Good for them, don't give these thieving things another cent of your hard earned cash!
Tax for independent retirees needs a serious revamp unless government’s objective is to make everyone State Dependent😪
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