No tax return needed for us poor folk anymore

MalicE

MalicE

Party time! Excellent!
GOOD NEWS EVERONE!

Some of you might have already gotten the mail from SARS, for those that haven't here's the low-down!

Dear Taxpayer
Taxpayers earning less than R250 000 a year may not have to submit a tax return this year

1 July marks the beginning of Tax Season. As from this date taxpayers can submit their Income Tax Return (ITR12) to the South African Revenue Service (SARS). The good news this Tax Season is that the annual income threshold for submitting a tax return has been raised from R120 000 to R250 000.

This means that any taxpayer earning R250 000 or less during a tax year (1 March to the end February the next year) may not need to submit an income tax return as long as they also meet the requirements listed below.
[TABLE="width: 700"]
[TR]
[TD="width: 10, align: center"][/TD]
[TD="width: 14"]·[/TD]
[TD="width: 654"]You earn a salary from only one employer (i.e. you get only one IRP5 or IT3A certificate)[/TD]
[/TR]
[TR]
[TD="align: center"][/TD]
[TD]·[/TD]
[TD]You don’t have any other form of income (e.g. interest or rental income)[/TD]
[/TR]
[TR]
[TD="align: center"][/TD]
[TD]·[/TD]
[TD]You don’t want to claim any tax deductions (e.g. medical expenses, retirement annuity contributions or business travel expenses).[/TD]
[/TR]
[/TABLE]

And according to our records from last year you may be one of those taxpayers who no longer needs to submit a tax return to SARS! So if nothing has changed in your tax affairs since last year – and your income for the year is still under R250 000 – you don’t need to complete and submit a return this year.

To double check whether you need to submit a tax return visit www.sars.gov.za and use the wizard on our Tax Season page. If you don’t have internet access you can call our Contact Centre on 0800 00 SARS (7277) or consult your own tax advisor.


Warm regards


SOUTH AFRICAN REVENUE SERVICE
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Good news for me. I think i lost my e-filing login details anyway. so no need to get the details anymore :D
 
Since I have worked here in sa, (the 3 years in the uk obviously not counting)

I havent filed for tax, since I have always made less than needed. I do check every year with the accountants that does the office's VAT and so forth, and its according to them not worth it for me to bother.
 
Wyvern said:
Since I have worked here in sa, (the 3 years in the uk obviously not counting)

I havent filed for tax, since I have always made less than needed. I do check every year with the accountants that does the office's VAT and so forth, and its according to them not worth it for me to bother.
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If you are contributing to a Retirement Annuity you may get some money back or if you have a travel allowance you can claim back against that. If you have all the necessary docs it really is not a difficult and time consuming online process.
 
This just means 1000s of refunds won't be claimed while SARS takes advantage of common laziness in people
 
Fivel said:
If you are contributing to a Retirement Annuity you may get some money back or if you have a travel allowance you can claim back against that. If you have all the necessary docs it really is not a difficult and time consuming online process.
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Hahaha I wish I had those luxuries. The most I have is a hospital plan, and Unisa that I am paying :P
 
Ike_009 said:
This just means 1000s of refunds won't be claimed while SARS takes advantage of common laziness in people
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this was my first thought as well

but I'm not getting anything anyway. the shithole I work for covers my medical
 
I just dont know if its worth the hassle to get noticed by SARS at this point :P

I have plenty of experience with them, most recently how they have decided to close our company for the second time this year - even though we submit our VAT and PAYE/UIF on time - they also didnt bother to let us know once again that they are not allocating the funds we have been paying to the right accounts.

We only found this out when we tried to get tax clearance certificates so that we can tender on gov projects.
 
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