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What are the SARS obligations and benefits for a taxpayer aged 74 years for the 2015/2016 tax year?

Posted 29 March 2016 under Tax Questions



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Advocate says:
25 March 2016 at 11:35

With regards to your post of 23 July 2012, about retirees aged 65 years and older: have there been any changes since then in SARS requirements for tax returns for the 2015/2016 tax year, or not? What benefits can such a taxpayer expect? What is the taxable threshold for a taxpayer 74 years of age (turning 75 in June 2016)? Where do donations fit into all of this?
1. Main source for living expenses is interest income. 2. Medical aid premium is paid by the retiree in full, in addition to medical expenses which go beyond medical aid benefits.

We applaud your website for the advocacy and education it provides for struggling taxpayers in our land.

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TaxTimTaxTim says:
29 March 2016 at 13:20

Thank you for the support and kind words. There have been numerous threshold changes since 2012. Please read our blog on the latest budget on the 2016/2017 Budget to get all the information you are asking.


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