I earn below R250 000 a year, how much tax do I pay?

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Cape Town - To help make the filing process as seamless as possible Fin24 has joined forces with the SA Institute of Tax Professionals (SAIT), to answer users' tax questions as far as possible.

User question: I would love to know what should I submit so that don't owe SARS money. I earn below 250 000 a year.

Piet Nel, SA Institute of Tax Professionals responds:

It is not quite clear what you require assistance on and we may well need more information to be able to respond.  The principle is that any person with a taxable income in excess of the tax threshold for a specific year will be liable to pay tax. 

If the R250 000 that you refer to is the gross amount derived form a trade (a business) you would be able to deduct expenses allowed by the legislation.  
 
If it was derived as an employee from an employer there are very little deductions available and the employees’ tax withheld by the employer should be very close to the final tax due.  Such a person would qualify for the exclusion not to submit a return unless the person also derived other income.  
 
It is possible that the reason you owe SARS, if it is in respect of employment income, is because you received an allowance (such as travel allowance) and the amounts expended (allowed to reduce the allowance) are less than the allowance. 

A portion of the allowance would then be subject to tax and the reason why you ‘owe SARS’.  
 
You may want to consult a tax practitioner to confirm that you are doing it right.

* Have a question? Send it to us and we will find an expert to answer.

PLEASE NOTE: The important deadline dates in the 2015 tax season are:

September 30 2015: Manual/postal submissions
November 27 2015: At a SARS branch (non-provisional)
November 27 2015: eFiling (non-provisional)
January 29 2016: Provisional taxpayers via eFiling

ALSO SEE previous tax questions from users:

Can interns claim for travel expenses?

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What are the limits on claiming travel expenses?

Can I claim for using my own car for work?

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