Do I need to file a tax return?
The SARS efiling
season for 2018 commenced on 1 July 2018.
We received various
clients requesting whether they need to submit an income tax return.
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(Accountants & BEE South Africa)
Below a few
pointers to assist you with this question.
- Your total gross salary is less than R
350,000, from ONE employer. The moment
you receive a salary/income from more than one employer, you need to submit an
income tax return.
- If you receive a travel allowance, you must
submit an income tax return.
- If you receive any rental income,
business-related income, interest above the threshold or capital gains for the
period, you need to submit an income tax return.
- Please note, that even though you don’t need to submit an income tax return, you may still submit one to claim deductions in the form of medical expenses and a retirement annuity.
How can we assist you?
Contact us for your monthly accounting and tax needs.
I have been in the industry for more than a decade and I would love to
assist you with your start-up or running business needs.
Feel free to send comments and / or questions to my inbox.