Connect with us

Citizens earning below R500 000 no longer need to submit tax returns

National

Citizens earning below R500 000 no longer need to submit tax returns

Taxpayers with an annual income not exceeding R500 000 will no longer be required to submit tax returns.

This was announced by the South African Revenue Service (SARS) Commissioner Edward Kieswetter during the launch of the 2019 tax season on Tuesday.

“We have decided to raise the threshold from R350 000 to an annual earnings of R500 000. This means you are not required to submit.”

 

 

This applies to citizens who do; not receive more than R500 000, only receive income from one employer for the full tax year, don’t have any other form of income such as car allowance, business/rental income, taxable interest or income from another job.

Taxpayers in this category are also required not to have any additional allowable tax related deductions to claim such as medical expenses, retirement annuity contributions and travel expenses.

This year’s tax season will begin on 1 July for submissions on digital platforms while walk-ins will commence on 1 August.

The deadline for digital submissions is 4 December while October 31 is the final day for walk-ins.

For the upcoming tax season, Kieswetter said SARS would be improving on online filing and submissions at branches by introducing innovations that would make it simpler and convenient for taxpayers. These include the issuing of customised notices indicating specific documents required in the event of an audit or verification and a simulated outcome issued before a taxpayer has filed.

“The revamped SARS MobiApp will make it even easier than before to use a smart phone to file a simple income tax return,” he said.

The app will allow simpler navigation and will see the introduction of biometric authentication.

Source: SANewsgov

 


Share your thoughts, Drop your comments below & Join the conversation, our Twitter or Facebook:

 

 

(Visited 311 times, 1 visits today)
Continue Reading
Click to comment

More in National

To Top