23 February 2017 at 22:25
I am unemployed but earn interest income ( approximately R260 000 annually)from fixed term deposits
I am under 65 and contribute to medical aid and retirement annuity
Do I need to file a tax return
This entry was posted in Tax Q&A and tagged Provisional Tax, Medical, Rental Income, Retirement, Dividends, Penalties, Tax Threshold. Bookmark the permalink.
24 February 2017 at 9:49
Yes, since you earn above the tax threshold (R75,000 for 2017 tax year) you should file a tax return.
You should also be registered as a Provisional Taxpayer and pay tax twice a year on your investment income.
PleaseRegister for TaxTim and let us assist you with your provisional return and tax return filings.