What does it mean to 'do taxes'?

[InternetSwag]

It horrifies me that someone can get to a working age earning a salary and not know what "doing taxes" means or their personal responsibility with regards to it.

Where is the failure here? School? Head in the sand? Employer's responsibility?

I have never been taught about two things;

-Banking Stuff
-Tax

Banking stuff like credit cards, debit cards, loans etc, I know a bit about now, I'm with capitec. But I was never learned these things in like school or so.
Tax, I never learned about taxes at any point at any education, school or tertiary.

Also, it's not really the employers responsibility i think. Why should they care about my taxes. So I guess we got to go with a head in the sand?

Out of interest how old are you @InternetSwag?

I am 25

You must be new to his threads

I haven't trolled in a long time tbh. These days my threads are all like 'wtf how do i life' kind of posts.

 

[InternetSwag]

Sadly not.

My memory is returning quickly.

god damnit

 

[SauRoNZA]

Oh I see, so I need to do this income statement, what happens if the tax return is wrong? Is it my employers fault? or mine?

It's your responsibility to make sure it's accurate which is why you need to do the return annually.

I do think it's your employers job to at least explain this to you and make sure you understand why it needs to be done.

Go chat to your finance department.

 

[Kornhub]

I have never been taught about two things;

-Banking Stuff
-Tax

Banking stuff like credit cards, debit cards, loans etc, I know a bit about now, I'm with capitec. But I was never learned these things in like school or so.
Tax, I never learned about taxes at any point at any education, school or tertiary.

Also, it's not really the employers responsibility i think. Why should they care about my taxes. So I guess we got to go with a head in the sand?

I am 25



I haven't trolled in a long time tbh. These days my threads are all like 'wtf how do i life' kind of posts.

I am kinda like you lol. I am going to get penalised heavily from SARS .

 

[backstreetboy]

Isn't it only in July?

 

[HavocXphere]

Until you get a bonus, or a travel allowance, or anything.

Bonus should be covered by PAYE. For allowances - that would kick you out of the no tax return exemption anyway which isn't what I was talking about.

Point I was making is there are few cases where you've got the option not to file but not filing loses you money. Vampire is portraying it like an evil plot by SARS to avoid refunds which it really isn't.

The whole thing is a bit of a fail though in that I don't think it captures med aid deductions well...which presumably is a fair chunk of the people around 300k. So likely creating a mountain of tax returns for people that are literally just filing due to that.