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The requirement to submit tax returns

In terms of the income tax act, every person who earns an income must be tax registered, and every registered tax payer has to submit a tax return
in the prescribed form once a year.

More specifically, the following are obliged to submit a return :

• A person (excluding a company) whose Gross Income includes net remuneration which exceeds a stated amount (currently R60 000 - the amount to
which SITE applies. However, if you have been issued a return, even if your net remuneration is below R60 000, you must still submit the return.
• A person (excluding a company) whose Gross Income includes interest or other non remuneration income of more that R2 000
• All companies, close corporations and trusts, even if they have no income.
• Any other person notified by the Commissioner

The form itself must be submitted within 60 days of its issue, unless a tax extension has been requested and approved by the Receiver of Revenue.

Tax returns may now be made via e-filing. However we make use of tax consultants for this sort of work. ( Pegasus@tucweb.co.za )

Please contact us if you would like specific advice on this or any other topics.