On Monday, 1 July, the 2019 Tax Season commenced for South African individual Taxpayers.
Do I need to submit an income tax return form?
This year, taxpayers DO NOT need to submit an income tax return form if they meet ALL the following criteria:
- Their total employment income for the year before tax is not more than R500 000 and the employee’s tax has been deducted;
- They receive employment income from only one employer for the full tax year;
- They have no other form of income (e.g. car allowance, business income, and rental income, taxable interest or income from another job);
- They don’t have any additional allowable tax-related deductions to claim (e.g. medical expenses, retirement annuity contributions and travel expenses).
Do I need to visit a SARS Branch?
In order to prevent taxpayers from making unnecessary trips to SARS branches, SARS has implemented a notification system to notify taxpayers that they do not have to submit a return. This notification will only be sent to those who have repeated filed a return in the past.
It is important to note that returns do not have to be submitted only if a notification has been received.
SARS has stated that taxpayers who are not required to file a return will receive an SMS from SARS that includes a simulated calculation of their return. This calculation is based on information received by SARS from employers and other sources.
IMPORTANT TO NOTE
This new system can have complicated consequences for taxpayers. The most important of which is that the taxpayer will be liable to prove that he/she was NOT obligated to submit a return in a certain year.
Therefore, it is important to keep your records with SARS up to date.
The following important Income Tax Return submission dates that you need to keep in mind:
- Branch filing closes on 31 October 2019
- eFiling closes on 4 December 2019
- Provisional taxpayers have until 31 January 2020 to file via eFiling.