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Abdul says: 27 October 2015 at 15:45 I have only begun being employed this year June 2015. Do I need to file a tax return? |
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TaxTim says: 27 October 2015 at 16:24 Yes, if you are earning above the tax threshhold of R73,650 per annum, it is recommended that you file a Tax Return. If you work for part of a year, it is likely that you will overpay tax as your earnings will be annualised and you will pay tax based on a full year. You will be able to claim back any overpayment of tax when you submit your 2016 Tax Return. Please read our blog on Reasons you need to file your tax return Please let TaxTim assist you to complete and file your Tax Return in order to maximise your chance of obtaining a refund. |
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Abdul says: 27 October 2015 at 16:41 Hi there thanks so much for the prompt response! Just a follow up question: So I would only file this tax return next year? Between 1 March 2016 and 28 Feb 2017? And I would claim for 8 months ( From June 2015)? Further, I have received a bonus this month and will recieve another in December. Will this be included in the tax return claim? Thanks in advance! I shall be sure to use Tax Tim for this tax return! |
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TaxTim says: 27 October 2015 at 16:50 Only a pleasure and glad you will be using us in future! You would file your 2016 Tax tax return (for the period June 2015 - Feb 2016) next year when tax filing seasons opens which will be from 1 July 2016 and runs to the end of November 2016. Your bonus will be included in your IRP5 salary certificate which you will receive from your employer after the tax year end and this information will be submitted to SARS when you do your Tax Return. Please read our blog on Returns, Rebates and Refunds for further clarification around Tax Returns and refunds. |
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Abdul says: 27 October 2015 at 21:19 Thanks so much! |
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TaxTim says: 28 October 2015 at 12:29 You are welcome :) |
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