{"id":699467,"date":"2023-06-28T06:00:00","date_gmt":"2023-06-28T04:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=699467"},"modified":"2023-07-04T11:49:17","modified_gmt":"2023-07-04T09:49:17","slug":"these-taxpayers-dont-have-to-submit-a-tax-return-this-year","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/699467\/these-taxpayers-dont-have-to-submit-a-tax-return-this-year\/","title":{"rendered":"These taxpayers don&#8217;t have to submit a tax return this year"},"content":{"rendered":"\n<p>The South African Revenue Service (SARS) will soon open the 2023 tax season for taxpayers to submit their income tax returns for the 2023 year of assessment; however, not all taxpayers have to do so. <\/p>\n\n\n\n<p>Tax season for income tax starts on 7 July 2023 and will last until 23 October for individual taxpayers and until 24 January 2024 for provisional taxpayers:  <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Individual taxpayers (non-provisional):&nbsp;<strong>7 July 2023 @ 20:00 to 23 October 2023<\/strong><\/li>\n\n\n\n<li>Provisional taxpayers:&nbsp;<strong>7 July 2023 @ 20:00 to 24 January 2024<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Tax season can be an incredibly stressful time for individuals and businesses, with taxpayers who fail to submit their returns on time facing penalties.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-businesstech wp-block-embed-businesstech\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"WStgpchXCe\"><a href=\"https:\/\/businesstech.co.za\/news\/finance\/698487\/sars-is-fining-expats-even-if-they-dont-owe-tax-heres-what-to-do\/\">SARS is fining expats even if they don&#8217;t owe tax &#8211; here&#8217;s what to do<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;SARS is fining expats even if they don&#8217;t owe tax &#8211; here&#8217;s what to do&#8221; &#8212; BusinessTech\" src=\"https:\/\/businesstech.co.za\/news\/finance\/698487\/sars-is-fining-expats-even-if-they-dont-owe-tax-heres-what-to-do\/embed\/#?secret=j3OLEeyPu6#?secret=WStgpchXCe\" data-secret=\"WStgpchXCe\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>However, not all taxpayers have to submit an income tax return, with <a rel=\"noreferrer noopener\" href=\"https:\/\/www.pwc.co.za\/\" target=\"_blank\">PwC <\/a>providing a detailed breakdown of those who do and those who don&#8217;t. <\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Taxpayers who don&#8217;t need to submit a return<\/strong><\/p>\n\n\n\n<p>A natural person &#8211; or estate of a deceased person &#8211; is not always required to submit an income tax return if their gross income consists of one of the following: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Remuneration not exceeding R500,000 from a single source and employees\u2019 tax has been withheld in respect of that remuneration;<\/li>\n\n\n\n<li>Interest income from a South African source (excluding a tax-free investment) not exceeding:\n<ul class=\"wp-block-list\">\n<li>R23,800 for a person younger than 65;<\/li>\n\n\n\n<li>R34,500 for a person who is 65 years<br>or older; or<\/li>\n\n\n\n<li>R23,800 for a deceased person\u2019s estate;<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Dividends where the individual was a non-resident throughout the year of assessment;<\/li>\n\n\n\n<li>Amounts received or accrued from tax-free investments <\/li>\n\n\n\n<li>A single lump sum received from a pension fund, provident fund, pension preservation fund, provident preservation fund or retirement annuity fund and tax has been deducted in terms of a tax directive.<\/li>\n<\/ul>\n\n\n\n<p>However, these exemptions do not apply to those in the following circumstances, for example, if a person is: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>paid or granted certain allowances\/advances relating to business travel, accommodation or subsistence;<\/li>\n\n\n\n<li>granted taxable benefits relating to the use of a motor vehicle; or<\/li>\n\n\n\n<li>any amount was received by or accrued regarding services rendered outside South Africa.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Auto assessments<\/strong><\/p>\n\n\n\n<p>SARS has noted that a natural person is not required to submit an income tax return if they are notified by that they are eligible for auto assessment.<\/p>\n\n\n\n<p>No action is required if the taxpayer&#8217;s gross income, exemptions, deductions and rebates, as auto-assessed, are complete and correct.<\/p>\n\n\n\n<p>Auto assessments are expected to start rolling out on 30 June 2023. <\/p>\n\n\n\n<p>If taxpayers do not accept the auto assessment, they will then be required to file a tax return. SARS is giving until the <a href=\"https:\/\/businesstech.co.za\/news\/finance\/697121\/big-change-for-sars-auto-assessments-in-2023-what-you-need-to-know\/\">due date of 23 October 2023 to do so<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Taxpayers who need to submit a tax return<\/strong><\/p>\n\n\n\n<p>However, many taxpayers in South Africa will still have to submit their tax returns &#8211; these are the criteria:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every resident company or resident juristic person who, during the year of assessment:\n<ul class=\"wp-block-list\">\n<li>had gross income of more than R1,000;<\/li>\n\n\n\n<li>held assets with a cost of more than R1,000 or liabilities of more than R1,000 at any time;<\/li>\n\n\n\n<li>derived any capital gain or loss exceeding R1,000 from the disposal of an asset; or<\/li>\n\n\n\n<li>had taxable income, taxable turnover, an assessed loss or an assessed capital loss.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every non-resident company, trust or other juristic person that:\n<ul class=\"wp-block-list\">\n<li>carried on a trade through a permanent establishment in South Africa;<\/li>\n\n\n\n<li>derived South African sourced income; or<\/li>\n\n\n\n<li>derived any capital gain or loss from a disposal of an asset.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every South African incorporated\/established company that is, as a result of an applicable double taxation agreement, not a resident in South Africa.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every resident trust.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every individual who:\n<ul class=\"wp-block-list\">\n<li>was a resident and carried on any trade (other than solely as an employee);<\/li>\n\n\n\n<li>was not a resident and carried on a trade in South Africa (other than solely as an employee);<\/li>\n\n\n\n<li>was a resident and had capital gains or losses exceeding R40,000;<\/li>\n\n\n\n<li>was not a resident and had capital gains or losses from the disposal of any asset;<\/li>\n\n\n\n<li>was a resident and held foreign currency or owned assets outside of South Africa which had a total value of more than R250,000 at any stage during the year;<\/li>\n\n\n\n<li>was a resident to whom any income or capital gains was attributed;<\/li>\n\n\n\n<li>was a resident and held any participation rights in a controlled foreign company;<\/li>\n\n\n\n<li>was a resident and had taxable turnover; or<\/li>\n\n\n\n<li>at the end of the tax year:\n<ul class=\"wp-block-list\">\n<li>was under the age of 65 and had gross income exceeding R91,250; <\/li>\n\n\n\n<li>was 65 years or older (but under the age of 75) and had gross income exceeding R141,250;<\/li>\n\n\n\n<li>was 75 years or older and had gross income exceeding R157,900<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Estates of deceased persons which had gross income.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every non-resident with South African sourced interest income if:\n<ul class=\"wp-block-list\">\n<li>the person is an individual who was present in South Africa for 183 days in total in the 12 months before receipt or accrual of the interest;<br>or<\/li>\n\n\n\n<li>the debt from which the interest arises is connected to a permanent establishment of the person in South Africa.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every person who is requested by SARS in writing to file a return (irrespective of income\/nature of receipts\/accruals of the person).<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Any representative taxpayer of any person listed above.<\/li>\n<\/ul>\n\n\n\n<p>PwC said that taxpayers must ensure that they pay attention to the deadlines stipulated by SARS to avoid any penalties. <\/p>\n\n\n\n<p>In addition, PwC said that anyone in the auto-assessment population must ensure that they pay attention to the auto-assessment process and determine if they need to file a return. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/finance\/698487\/sars-is-fining-expats-even-if-they-dont-owe-tax-heres-what-to-do\/\">SARS is fining expats even if they don\u2019t owe tax \u2013 here\u2019s what to do<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not all South Africa taxpayers have to submit an income tax return. <\/p>\n","protected":false},"author":95,"featured_media":674015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26,2407,3246],"class_list":["post-699467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline","tag-pwc","tag-sars"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/699467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=699467"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/699467\/revisions"}],"predecessor-version":[{"id":700225,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/699467\/revisions\/700225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/674015"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=699467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=699467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=699467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}