Do I need to submit a tax return or not ?

Do any of the following apply to you for the tax year 1 March 2019 to 29 February 2020?

  • Did you conduct any trade* in South Africa or if you are a South African tax resident did you conduct any trade*?
  • Did you receive an allowance such as a travel, subsistence or office bearer allowance? Check your IRP5/IT3(a) if unsure.
  • Did you hold any funds in foreign currency or assets outside South Africa that have a combined total value of more than R225 000 at any stage during the tax year?
  • Did you have Capital Gains or Capital Losses exceeding R40 000?
  • Was any income or a Capital Gain from funds in foreign currency or assets outside the Republic attributed to you?
  • Do you hold any rights in a Controlled Foreign Company?
  • Did you receive an Income Tax Return or were you asked to submit an Income Tax Return for the tax year?

If your answer to any of these questions was YES, then you MUST submit an income tax return.

If you answer was NO to the above, and you earned less than R78 150 (age below 65), R121 000 (age between 65 and 75) or R135 300 (age over 75) then you do not have to submit an income tax return.