SARS lifts tax return threshold from R350 000 to R500 000 | Fin24
 
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SARS lifts tax return threshold from R350 000 to R500 000

Jun 04 2019 09:39
Sibongile Khumalo, Fin24

The SA Revenue Service announced on Tuesday that it has lifted the tax return threshold from R350 000 to R500 000.

This means that people who earn less than R500 000 per year, and meet certain other criteria, will not need need to file tax returns, commissioner Edward Kieswetter said at a media briefing in Pretoria. 

SARS explained that taxpayers who meet the following criteria will not need to file returns.  

  • Their total employment income for the year before tax is not more than R500 000;
  • They only receive employment income from one employer for the full tax year;
  • They have no other form of income, such as car allowance, business income, rental income, taxable interest or income from another job; and
  • They don’t have any additional allowable tax related deductions to claim, such as medical expenses, retirement annuity contributions and travel expenses.

"I must warn taxpayers that making false declarations is fraud and has serious implications," added Kieswetter on Tuesday. 

Tax season starts on August 1 2019 for all taxpayers. Taxpayers who are registered for eFiling or make use of the new SARS MobiApp can file their income tax returns from July 1.

The tax agency said eFiling had been improved to make it easier to file a return, submit supporting documents and make payments. 

sars  |  edward kieswetter
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