I don't earn more than R350 000 per year, however when I requested my Statement of account from SARS I received a penalties statement for not submitting a return for 2010 and 2014. Why would I need to submit a return if my income is less that the R350k threshold? What do I do now?
The R350 000 threshold is new to this year, prior years it was R250 000 and R120 000. However this is only for taxpayers who received one IRP5 which only had a salary and no deductions or any other income at all to claim or declare. See our blog post on why it is still important to file your tax return.
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