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.