SARS should consider a tax return threshold for pensioners

2019-06-04 15:41
Edward Kieswetter (Pic: Youtube screengrab)

Edward Kieswetter (Pic: Youtube screengrab)

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Commissioner Edward Kieswetter should consider tax paying pensioners and lighten the burden on them as far as submitting tax returns are concerned.

SARS should consider the following changes. Pensioners who meet the following criteria will not need to file tax returns or submit provisional tax returns.

- Pensioners over the age of 70, deriving income from a pension fund, a retirement fund and/or from investments only.

- Their individual income for the year before tax is not more than R500 000;

- They do not work at all.

- SARS issue provisional tax assessments to pensioners during the month of July, which will allow pensioners to accept, contest and submit medical claims prior to SARS issuing a final ITA34.

It is easy to monitor personal income via bank statements, as banks/investment companies automatically submit annually income statements to SARS and pensioners.

This will remove the burden of Efiling, submitting provisional tax and tax returns. It will also alleviate the burden on pensioners having to visit SARS for support and guidance.

In general, claiming medical expenditure via Efiling must be simplified across the board by allowing all taxpayers to upload proof of medical claims when they submit their tax returns (including Efiling) the first time around, not afterwards on request of SARS. This will lighten the burden on SARS personnel and save time.

Taxpayers must accept that making false declarations is fraud and has serious implications.

B du Preez

Cape Town

Read more on:    sars

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