The 2019 tax season officially started on 1 July 2019.

Different filing periods apply, depending on the way a taxpayer chooses to submit their return:

• Taxpayers who use e-filing to submit their returns have from 1 July 2019 until 4 December 2019.
• Provisional taxpayers have until 31 January 2020.
• Taxpayers who prefer to visit a SARS branch to physically submit their returns may submit between 1 August and 31 October 2019.

Companies and close corporations are not subject to the above-mentioned deadlines since the deadline for such entities’ income tax returns is 12 months after year-end.

The income threshold for submitting returns was increased from R350 000 to R500 000 for employees who received a single source of income from one employer during the year of assessment.

A natural person or estate of a deceased person will therefore not be required to submit a return if their gross income consists solely of any one or more of the following:

• Remuneration not exceeding R500 000 from a single source with no additional benefits or claimable allowances, and employees’ tax has been withheld in respect of that remuneration;
• Interest income from South Africa (excluding a tax-free savings account) less than
  • R23 800 for a person younger than 65;
  • R34 500 person aged between 65 and 75; or
  • R23 800 for a deceased person’s estate;
• Dividends where the individual was a non-resident throughout the year of assessment;
• Amounts received or accrued from a tax-free savings account; and
• Capital gains or losses of less than R40 000.

This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)