The South African Revenue Service (SARS) has published a notice detailing which South Africans have to submit a tax return in 2022, says professional services firm PwC.
In an analysis of the notice, PwC noted that SARS has significantly reduced the deadlines for filing returns from those that applied in previous years in certain circumstances. Taxpayers will need to ensure that they meet the deadlines to avoid the potential imposition of any penalties.
While the official start dates of the tax filing season have not been announced, SARS has indicated that a complete list of details will be published on Friday (3 June).
Who does not need to file a return?
SARS said that a natural person or estate of a deceased person is not required to submit a return if their gross income consists solely of one or more of the following:
1. Remuneration not exceeding R500,000 from a single source with no additional benefits or claimable allowances, and employees’ tax has been withheld in respect of that remuneration;
2. Interest income from South Africa (excluding a tax-free investment) not exceeding:
- R23,800 for a person younger than 65;
- R34,500 for a person of 65 or older; or
- R23,800 for a deceased person’s estate;
3. Dividends where the individual was a nonresident throughout the year of assessment; and
4. Amounts received or accrued from tax-free investments.
5. The above exemption does not apply to individuals in the following circumstances, i.e. if:
- Paid or granted certain allowances/advances relating to business travel, accommodation or subsistence;
- Granted certain taxable benefits or advantages derived by reason of employment or the holding of any office; or
- Any amount was received by / accrued in respect of foreign services rendered.
A company must submit its income tax return within 12 months from the date on which its financial year ends. Other taxpayers must submit an income tax return as follows:
1. On or before 24 October 2022 for:
- Non-provisional taxpayers using eFiling; and
- Taxpayers who submit their returns electronically at a SARS office (assisted by a SARS official) or manually.
2. On or before 23 January 2023 for:
- Provisional taxpayers using eFiling
3. Where accounts are accepted by SARS in terms of section 66(13A) of the Act (i.e. in circumstances where SARS is satisfied that income of certain persons cannot be conveniently returned for the year of assessment) and the accounts are drawn to a date after 28 February 2022 but on or before 30 September 2022, within six months from the date that the accounts are drawn.