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Penalties for not submitting tax for pension payout

Posted 15 July 2015

Corne said:
15 July 2015 at 11:50

Hi Tim, I received pension payout from divorce settlement in 2014. SARS deducted their share. I didn't submit IRP5 last year. My question is, the money is now finish. Will SARS penalise me if I submit this year? I am working but my income is below the threshold.

TaxTim Evan TaxTim Evan said:
15 July 2015 at 13:49

No, they will have taken tax once off already and that is full and final.

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