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Deadline looms for non-provisional taxpayers

25 November 2015   (0 Comments)
Posted by: Author: Ingé Lamprecht
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Author: Ingé Lamprecht (Moneyweb)

Cut-off date to file returns is November 27.

Time is running out for non-provisional taxpayers – the majority of employed individuals who submit a tax return – to file their returns.

The submission deadline for all non-provisional taxpayers is on Friday November 27. Provisional taxpayers (individuals who earn other forms of income such as investment or rental income) have until January 29 2016 to submit their returns.

Based on the 4.25 million returns the South African Revenue Service (SARS) received by close of the filing season last year, about 90% of all expected returns have already been submitted, Sandile Memela, SARS spokesperson, says.

Individuals whose total annual salary from one employer did not exceed R350 000 during the 2015 tax year and who did not have any allowances, deductions or additional income do not have to file a tax return. In 2014 the threshold was R250 000 and as a result, it is difficult to compare the figures on a like-for-like basis.

Memela says the submissions are on par with the previous year, due to the increase in the threshold.

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This article first appeared on moneyweb.co.za.


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