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Why do I pay tax

Posted 8 July 2016

Chrid says:
7 July 2016 at 20:41

Why do I pay tax every year even my annual income is less than R350 000?

TaxTim TaxTim says:
8 July 2016 at 7:50

You are liable to pay tax if your income exceeds R73 000 per year. The R350 000 you are referring to is an amount used by SARS saying that you dont have to submit a tax form if you earn less. TaxTim suggests that you still submit a tax form if you earn less than this amount, in order to keep your tax affairs up to date.

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