I am now 61 years old and retired Feb 2008. Up until then all taxes were up to date. Since then I moved and receive R90,000 pa rental income from my fixed property. I wish to establish if I am liable for any taxes on this rental income and if I must re register as a provisional tax payer in the light that I have never received any notices from SARS since retirement.
You will need to register as a provisional taxpayer and you are liable for tax on that amount. However, is that the income amount, you can deduct expenses against that rental income such as interest on any mortgage, rates and levies and electricity, agency fees etc.
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