JUST IN: SARS lifts tax return threshold from R350 000 to R500 000
The SA Revenue Service announced on Tuesday that it has lifted the tax return threshold from R350 000 to R500 000.
This means that only people who earn more than R500 000 per year will need to file tax returns, commissioner Edward Kieswetter said at a media briefing in Pretoria.
“I must warn taxpayers that making false declarations is fraud and has serious implications,” added Kieswetter.
Taxpayers who are registered for eFiling or make use of the new SARS MobiApp can file their income tax returns from July 1.
New SARS commissioner Edward Kieswetter officially took up the reins at the start of May 2019. Upon his appointment, President Cyril Ramaphosa said he had “every confidence” that Kieswetter had the “experience, integrity and skills” to turn around the beleaguered tax agency.
Upon announcing his appointment, Finance Minister Tito Mboweni congratulated Kieswetter and wished him well in “implementing the recommendations of the Nugent Commission and restoring SARS to a world-class organisation”. These recommendations included a review of procurement processes, the re-establishment of the Large Business Centre and other units dismantled by former commissioner Tom Moyane, and the re-evaluation of all posts at SARS. This would include redeploying staff where they might better contribute, or recruiting former employees.