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Why must I pay in every year to SARS?

Posted 10 August 2014 under Tax Q&A


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I was retrenched 7 years ago, I do received a monthly annuity, in the interim I am employed with the current company. My question every year I must pay in to SARS, WHY?

This entry was posted in Tax Q&A and tagged . Bookmark the permalink.

TaxTim TaxTim says:
10 August 2014 at 20:15

The monthly annuity has not had tax withheld by it and therefore it is income which gets added to your current income and is taxed. You can request that the fund does take off tax each month and then you will not need to pay in.


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