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Do I need to submit a tax return if I earn less than R150 000 in total from 3 different funds?

Posted 1 November 2013

I am a pensioner (age 68) I receive only pension & retirement annuity income (3 IRP5 recieved totally less than R150 000 for the year). No tax was deducted by the Funds. Do I still need to submit my income tax return to SARS? If so, would I be liable for tax on this amount?

TaxTim TaxTim says:
4 November 2013 at 9:54

You would need to submit an income tax return and unfortunately you would pay tax on about R50 000 at 18% so about R10 000 in total.

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