The South African Revenue Service (SARS) commissioner, Edward Kieswetter, has announced that taxpayers with an annual income not exceeding R500 000 will no longer be required to submit tax returns.

According to SA News, the announcement was made during the launch of the 2019 tax season earlier this week.

“We have decided to raise the threshold from R350 000 to an annual earnings of R500 000. This means you are not required to submit, however there are provisions,” said Kieswetter.

SARS says that the provision will include that the taxpayers total annual income does not exceed R500 000, and should also only receive income from one employer for the full tax year.

“Three, they don’t have any other form of income such as car allowance, business income, and rental income, taxable interest or income from another job,” he added.

The commissioner also warned taxpayers who consistently miss deadlines to submit returns early, and also warned tax practitioners against making false declarations, stating that it is considered fraud and had serious consequences.

“Late submissions carry penalties and we remind you that it is a criminal offence if you do not submit a tax return at all, voluntary compliance matters. Dishonest taxpayers who are detected for an audit or a criminal investigation will experience the consequences of their action,” he explained.

Furthermore SARS says that for the upcoming tax season, they would be improving on online filing and submissions at branches by introducing innovations that would make it simpler and convenient for taxpayers.

These would include the issuing of customised notices indicating specific documents required in the event of an audit or verification and a simulated outcome issued before a taxpayer has filed.

“The revamped SARS MobiApp will make it even easier than before to use a smartphone to file a simple income tax return,” concluded Kieswetter.

SA News adds that 2019 tax season will begin on 1st July for submissions on digital platforms while walk-ins will begin on 1st August and the deadline for digital submissions being on 4th December and 31st October for walk-ins.

[Source – SA News] [Image – CC 0 Kelly Sikkema]