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Do I need to file a tax return with R260 000

Posted 24 February 2017

Taz says:
23 February 2017 at 22:25

I am unemployed but earn interest income ( approximately R260 000 annually)from fixed term deposits
I am under 65 and contribute to medical aid and retirement annuity
Do I need to file a tax return

TaxTim TaxTim says:
24 February 2017 at 9:49

Yes, since you earn above the tax threshold (R75,000 for 2017 tax year) you should file a tax return.
You should also be registered as a Provisional Taxpayer and pay tax twice a year on your investment income.

PleaseRegister for TaxTim and let us assist you with your provisional return and tax return filings.

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