I've only worked 4 months of the 2015 tax year. Am I correct in saying that one does not need to pay tax if the yearly income is less the R80 000. My earnings for the year before tax if R68 000. So am I correct in saying that if I don't work for the rest of the 2015 tax year, I will get the tax I paid to SARS back?
The tax threshold for 2015 (1 March 2014 to 28 Feb 2015) was R70,700 so any amount earned below would not attract tax. The tax threshold for 2016 (1 March 2015 - 28 Feb 2016) is R73,650. These rates apply to under age 65's.
Yes, if you earn below the threshold during these periods, and paid tax, then you need to complete a tax return for the year in order to claim a refund.
Please Register for TaxTim and let us assist you to complete and submit your tax return to SARS in order to claim your refund.
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