28/06/2021
!! The Tax Season opens the 1 July 2021 for individuals and Trust !!
Not sure whether you must submit an Income Tax Return (ITR12)?
Answer these simple questions below and find out.
Does any of the following apply to you for the tax year 1 March 2020 to 29 February 2021?
- Do you have any Retirement Annuities, Pension Fund or
Medical Aid?
- Did you earn interest exceeding the annual exempt amount?
o Interest in excess of R23 800 by an individual below the age
of 65 years.
o or interest in excess of R34 500 by an individual aged 65
years or older.
- Did you receive an allowance such as a travel, subsistence,
office bearer allowance or company vehicle fringe benefit?
Check your IRP5/IT3(a) if unsure.
- Did you have Capital Gains or Capital Losses exceeding
R40 000?
- Did you receive an Income Tax Return or were you asked to
submit an Income Tax Return for the tax year?
- As a South African tax resident,
o did you conduct any trade or employment outside South
Africa?
o did you hold any funds in foreign currency or assets
outside South Africa that have a combined total value of
more than R250 000?
o was any income or Capital Gains from funds in foreign
currency or assets outside the Republic attributed to you?
o do you hold any rights in a Controlled Foreign Company?
Should any of the above apply to you. Please do not hesitate to contact:
Isabel Gooding: 061 1183 278
[email protected]
