Who must submit a tax return?
- if you received R120 000 from a single source of employment during the 2012 tax year.
- if you are under 65 years & received income > R59 750 from one or more source
- if you are between 65 and 74 years and received an income > R93 150 from one or more source
- if you are 75 years & older and received an income > R104 261 from one or more source
- if you carried on a trade
- received travel, subsistence or office bearer allowance
- hold any funds or assets outside RSA that have a value of > R50 000 if you carried on a trade
- received a local Capital Gain/Loss of > R20 000
- received any income of Capital Gain in a foreign country received a local Capital Gain/Loss of > R20 000
- hold any rights in a Controlled Foreign Company
- received any income of Capital Gain in a foreign country
- received investment income from a source in RSA above the exemption limits (R22 800 if below 65 years or R33 000 if 65 years and older)
- earned an income through the letting of any property
- received an IT12 from SARS or were requested to submit such a return.
The 2012 tax season started on 1 July 2012.
All material subject to our Legal Disclaimers.