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Do I qualify for income tax in the new law.

Posted 2 August 2015

Barbie says:
1 August 2015 at 19:16

I have a small business renting apartments and my annual income is R 300 000 before expenses. I want to find out if I qualify for income tax with the new tax law.

TaxTim TaxTim says:
2 August 2015 at 14:19

There is no new law regarding submission of tax returns. The R350 000 threshold applies to submission of returns only when you earn from one employer with no additional income or deductions. The threshold for paying tax is still R73 650 for the new tax year which means you will have to file returns and pay tax unfortunately.

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