The tax threshold for returns has been increased to R500,000, commissioner Edward Kieswetter of the South African Revenue Service announced on Tuesday
(PHOTO: Sars Commissioner Edward Kieswetter, GCIS)
By Staff Reporter
Tax returns were previously required by SARS to all people earning R350 000. The threshold has been increased to R500,000.
You will need to meet the following requirements to qualify
- You must receive income from one employer only.
- You must have no other form of income, such as a car allowance, business income, taxable income or money made from renting.
- You must have no additional deductible allowances, such as medical expenses, travel expenses or retirement annuities.
The closing date for the tax season will be October 31 for those filing at SARS branches meanwhile for taxpayers who use eFiling, the deadline is December 4 and for provisional taxpayers who file online, the closing date is January 31, 2020.