Beware the new R500,000 tax return threshold

[Jamie McKane]

Beware the new R500,000 tax return threshold

South African taxpayers should beware of simply ignoring their normal tax filing obligations due to the recent tax threshold change, according to North West University professor Herman Viviers.

The South African Revenue Service (SARS) recently announced that it increased the tax return threshold from R350,000 to R500,000.

 

[Pineapple Smurf]

nope, still doesnt affect me, i have no perks

 

[LazyLion]

If anything goes wrong, SARS is going to demand all your returns for the past 10 years.

 

[Stillie]

question regarding the 500 000 threshold

If say you earn 20 000 pm (CTC) and walk away with +-R17 000
Is the 500 000 calculate based on the CTC value or what you walk away with?

EDIT: Im guessing its the CTC but i just wanted to confirm

 

[konfab]

question regarding the 500 000 threshold

If say you earn 20 000 pm (CTC) and walk away with +-R17 000
Is the 500 000 calculate based on the CTC value or what you walk away with?

EDIT: Im guessing its the CTC but i just wanted to confirm

It is CTC, always.

 

[Pitbull]

question regarding the 500 000 threshold

If say you earn 20 000 pm (CTC) and walk away with +-R17 000
Is the 500 000 calculate based on the CTC value or what you walk away with?

EDIT: Im guessing its the CTC but i just wanted to confirm

Just fill your return...

 

[Stillie]

Just fill your return...

i always do and always have, i am just curious

 

[Y'all Qaeda]

question regarding the 500 000 threshold

If say you earn 20 000 pm (CTC) and walk away with +-R17 000
Is the 500 000 calculate based on the CTC value or what you walk away with?

EDIT: Im guessing its the CTC but i just wanted to confirm

CTC. Always CTC...
You nett is after tax has been deducted.

 

[Stillie]

thanks @GhostSixFour

 

[Thor]

Seems then like a move from government to keep more of the money, hoping more people will not fill it in (thus no need for payouts.)

 

[Pitbull]

Seems then like a move from government to keep more of the money, hoping more people will not fill it in (thus no need for payouts.)

Exactly that.

 

[Kosmik]

Seems then like a move from government to keep more of the money, hoping more people will not fill it in (thus no need for payouts.)

Sorry for them, they must pay me back!

 

[Nobody Important]

Sorry for them, they must pay me back!

Yes, pay back the money!

 

[4ftersh0ck]

Exactly.

I hope everyone in SA does this. They're trying to patch the tiny pin prick holes in their bucket to save 250ml when there are BILLIONS of liters of water being wasted elsewhere.