How do I know whether I need to submit a tax return? I am registered but have never submitted a return. I find the sars website a little confusing as they state: 'You are liable to pay income tax if you earn more than R63 556 in the 2013 year of assessment, and are younger than 65 years of age. ' BUT also state: 'What is the threshold for the non-submission of ITR12 returns for individuals for the 2013 year of assessment?Although a taxpayer still has to register for income tax he/she may elect to not submit a return for the 2013 year of assessment if the following conditions are met: Where the gross income consists solely of remuneration and:It does not exceed R250 000 Is paid or payable from one single source (e.g. one employer);Is for a full year of assessment (i.e. all 12 months);No allowance was paid (e.g. travel allowance); andEmployees' tax (i.e. PAYE) has been deducted or withheldWhere the gross income consists solely of interest income from a source in the Republic and it:Does not exceed R22 800 for persons below the age of 65 years or R33 000 for persons aged 65 years and older'I have no idea whether I should submit a tax return or not, please help to clarify this is simple terms.There should be something like, if you earn more than xxxxxx per month you need to submit a tax return.
Our advice is to submit a tax return if you earn more than the R63 556 per annum. The reason for this is that SARS keeps track of returns that our outstanding and although it is not mandatory if that second set of criterion are met, when you do submit and you are due a refund then SARS will not pay out. This is because they do not know about potential other income. Also there may be some expenses that SARS are not aware of or you worked part of the year and so could be due a refund, yet are below the threshold. So always submit.
* For the last week of tax season (ends Friday 22 November) we are offering a R50 saving (25% off) on all tax return completions with TaxTim. Get your discount on our payment page with this voucher code: EDC582CC8422.
Confusedsays: 18 November 2013 at 8:20
Thank you for the clarity! May I submit my tax return without an IRP5?
TaxTimsays: 18 November 2013 at 16:36
Your IRP5 should already be on eFiling, you would then only need it if SARS decides to request supporting documentation. So try get it if you can.
Get SARS Tax Dates and Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.