If your sole income came from employment and you earned less than R250,000 in the last tax year you do not need to complete a personal tax return as SARS will pick up all the information from your employer. However if you answer yes to any of the following questions you maybe required to complete your own tax return
Did you conduct any trade* in South Africa?
Did you receive an allowance such as a travel, subsistence or Office Bearer Allowance? Check Section 8(1)(a) of the Income Tax Act if unsure.
Do you hold any funds or assets outside South Africa that have a value of more than R100 000?
Did you have a local Capital Gain/Loss exceeding R30 000?
Did you receive any income or Capital Gain in a foreign currency?
Do you hold any rights in a Controlled Foreign Company?
Did you receive an Income Tax Return or were you requested to submit a Income Tax Return for the year in question?
At NMR Accounting CC we can help you discern whether you need to complete a personal tax return and if so, help you with the collation of the relevant data and the completion online of your personal tax return. We hope to make your life easier by so doing and take the stress out of this annual challenge
Please feel free to Connect With Us to find out how NMR Accounting CC may assist you.