Personal income tax – Still confused

Still confused about personal income tax??  Let’s clear up some of the questions people usually need answers to.

Let’s start at the beginning.  Everyone in South Africa should have a personal income tax number.  This also applies to people under the age of 18 who earns an income, usually as a beneficiary of a trust.  If you receive an income of less than R350 000 a year from one source, it is not necessary to submit a return.  But unfortunately the SARS system does not always recognize this, which can lead to penalties accumulating. So it is very important to always be aware of what is going on on your personal income tax account with SARS.

Deadline for personal Income Tax

The deadline for the 2018 tax season was 31 October 2018. And will be 31 January 2019 for taxpayers who are registered for provisional tax.  Provisional taxpayers are usually people who trade business in their personal capacity, or get other income that is not a set monthly salary.  It is very important to know whether you are a registered provisional taxpayer.   When you submit your return during filing season, an additional penalty is raised for under provision of tax if you have failed to submit provisional tax returns correctly. 

Objections on personal Income tax

Objections can be done on incorrectly assessed returns by SARS.  Also where admin penalties was raised and it was not necessary to submit a  return.  The only downside with objections is the SARS turnaround time.  It  takes up to 60 business days to be completed. 

Not sure whether you have a tax number

Contact us today and we can check whether you are registered for tax.  Also see the list of our other services

We can also do a free assessment to determine the status of your tax account.  And advise on which corrective steps to take.

personal income tax

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