How much do you have to earn to apply for your tax back?
By Marc Sevitz · Updated
If you are a salaried employee and under the age of 65 then you would pay tax on a monthly basis (PAYE) on annual earnings over R63 556. The more you earn the more tax you will pay. You can reduce the tax and possibly get a tax refund if you have expenses such as:
Medical Aid;
Pension Fund;
Retirement Annuity fund;
Income Protection;
Log book if you have a travel allowance;
Donations to a registered Public Benefit Organisation.
When complete your tax return you would include these amounts if you have them as expenses which may result in a refund.
Going through the TaxTim process will guide you along the way by asking all the relevant questions and help you become tax compliant and hopefully you will be due a refund.
Medical Aid;
Pension Fund;
Retirement Annuity fund;
Income Protection;
Log book if you have a travel allowance;
Donations to a registered Public Benefit Organisation.
When complete your tax return you would include these amounts if you have them as expenses which may result in a refund.
Going through the TaxTim process will guide you along the way by asking all the relevant questions and help you become tax compliant and hopefully you will be due a refund.