Earn less that R500K per year? Wave goodbye to tax filing

South African Revenue Service Commissioner (Sars) Edward Kieswetter has announced that those who earn less than R500,000 a year will be exempt from filing tax returns this season.

Previously those who earned R350,000 per year or more would have to file.

Marc Sevitz of TaxTim says it's important to note that the exemption only applies to those who meet certain requirements.

Essentially it's someone who only earns a salary from one employer and works for a full 12 months and has no deductions, no travel, no medical, no retirement.

Marc Sevitz, Director - TaxTim

But Sevitz says even if you fall into that category, his advice is to file anyway.

We always say it is best to file because you've got to file that you're compliant.

Marc Sevitz, Director - TaxTim

Sars are trying to be more efficient. So if there are people that don't really need to file, it does clear up their backlog.

Marc Sevitz, Director - TaxTim

Read: How to get a nice, fat tax refund from Sars (a guide for business owners)


This article first appeared on 702 : Earn less that R500K per year? Wave goodbye to tax filing


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