I receive my IRP5 every year, I never submitted them to receiver because all along I did not have a medical aid or a retirement annuity. Last year in September I then joined the Government medical aid and it was also stated in some articles that if you don't have one of the mentioned and earning below 250 000 per annum there was no reason to submit. This year I will do my submission since I have a medical aid.
My question is won't I be penalized for not submitting last year due to the reasons stated?
Although the minister announced that taxpayers do not need to submit a return if they earn less than R250 000 from one employer with no extra deductions or medical aid, it has been found that SARS and eFiling still request a return to be submitted. If you have not received a penalty notice by now, then you can submit this return for last year without being penalised so that you are fully compliant going forward.
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