• Tax

    Who needs to submit an income tax return?

    In order for you not to submit an income tax return, you have to comply with the following conditions: Income for the year was less than R500 000 Income was only received from one employer, ie only one IRP5 received. If you had any of the following forms of income, you have to submit an income tax return: Trading as a sole proprietor. Received a travel or subsistance allowance. Capital gains or losses totaling R40 000 or more. Held funds in foreign currency or assets exceeding R225 000 at any stage during the year. For more information, contact us now on email.