Please see below requirements/criteria to be met for individuals to submit an income tax return:
(“if you answered yes to any of the following questions you will need to submit an income tax return”)
Do any of the following apply to you for the tax year 1 March 2019 to 29 February 2020?
- Did you conduct any trade* in South Africa or if you are a South African tax resident did you conduct any trade*?
- Did you receive an allowance such as a travel, subsistence or office bearer allowance? Check your IRP5/IT3(a) if unsure.
- Did you hold any funds in foreign currency or assets outside South Africa that have a combined total value of more than R225 000 at any stage during the tax year?
- Did you have Capital Gains or Capital Losses exceeding R40 000?
- Was any income or a Capital Gain from funds in foreign currency or assets outside the Republic attributed to you?
- Do you hold any rights in a Controlled Foreign Company?
*The term “trade” means every profession, trade, business, calling, occupation or venture, including the letting of any property but excluding any employment.
Filing deadlines:
- 1 September to 16 November – taxpayers who file online
- 1 September to 22 October – taxpayers who cannot file online can do so at a SARS branch by appointment
- 1 September to 29 January 2021 – provisional taxpayers who file online
https://www.sars.gov.za/TaxTypes/PIT/Pages/Do-you-need-to-submit-a-return.aspx