SARS should consider a tax return threshold for pensioners

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

Edward Kieswetter (Pic: Youtube screengrab)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

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
NEXT ON NEWS24X

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

 
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.