Income Tax Registration for individual persons and businesses.
Who must register with SARS for income tax purposes
People who pay income tax are generally individuals who earn an income e.g. from a salary, commission, fees, etc and businesses that are making revenue.
Why must register for income tax
SARS is going to heavily rely on information from sources like banks, insurances, and other third party companies to look out for individuals and companies defaulting on their tax compliance obligations.
It is therefore important for all individuals and businesses to be honest with SARS about their business incomes to avoid audits and possible fines.
|Individual Income Tax Registration|
|Business Income Tax registration|
|Import and export custom code|
You do not need to submit a return if ALL the criteria below apply to you:
– Your total employment income / salary for the year (March 2017 to February 2018) before tax (gross income) was not more than R350 000; and
– You only received employment income / salary for the full year of assessment (March 2017 to February 2018) from one employer; and
– You have no car allowance/company car/ travel allowance or other income (e.g. interest or rental income); and
– You are not claiming tax related deductions/rebates (e.g. medical expenses, retirement annuity contributions other than pension contributions made by your employer, travel).
Let us help you now
Still unsure whether you need to submit? Let us assist and we’ll help you to see whether you need to submit a tax return or not.
Corporate tax includes tax paid by companies or close corporations, as well as trusts, on their annual income.
Most of the State’s income is derived from Income Tax (personal and corporate tax), although nearly a third of total revenue from national government taxes comes from indirect taxes, primarily Value-Added Tax (VAT). For more information on who pays taxes, go to SARS.