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I want to declare a new income source.

Posted 27 November 2015

Brenda says:
26 November 2015 at 22:25

I want to declare income this year for the first time. Network marketing income. I already earned it in previous tax years but did not declare it. Will this be a problem?

TaxTim TaxTim says:
27 November 2015 at 13:21

If you earn above the tax threshold (currently R73,650 per annum) you should be declaring all your income and filing a tax return. Were you earning above the tax threshold in prior years?

SARS has become very strict with prior year tax returns this year and they are requesting all prior year filings to be brought up to date before any refund is paid.

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