|
MR R says: 2 July 2015 at 14:22 I received a REIT dividend source code 4238 on my unit trust IT3B it is very little only R30. Are Reits exempt? Also I read the ITR12 handbook and they suggest I put it under other income/accruals 4214 code with description "income from a REIT". Is this right? I'm worried they will make me a provisional tax payer due to this extra and only R30 that dosent come from my employment income or local exempt dividends, interest. I dont really want the extra admin issues due to this small amount of income, or is there a threshold I need to reach i.e. R20000 of extra income? Currently I'm on 18% rate. I would be great if you could maybe make this more clear. If I do become a provisional rate payer from this could I ask them to exempt me due to the small amount? |
|
TaxTim says: 2 July 2015 at 14:53 The threshold for Provisional Tax Registration is R30 000 so you don't have to worry about that. Reflecting the R30 under the other income would work as well, the tax will only be R5.40. |
|
|
MR R says: 2 July 2015 at 15:20 Gooday, would there be any other place to reflect it besides in "other income"? Thank you for such a fast response. |
|
|
TaxTim says: 2 July 2015 at 15:21 That would be the most appropriate place until SARS updates the tax return in about August 2015. |
Do Your Tax Return Easily