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Tax Administration Act, 2011 (Act No. 28 of 2011)

Notices

Returns to be submitted by a Person in terms of Section 25 of the Tax Administration Act, 2011 (Act No. 28 of 2011)

2. Persons who must submit an income tax return

 

The following persons must submit an income tax return:

 

(a) Every company or other juristic person, which was a resident during the 2024 year of assessment that—
(i) derived gross income of more than R1 000;
(ii) held assets with a cost of more than R1 000 or had liabilities of more than R1 000, at any time;
(iii) derived any capital gain or capital loss of more than R1 000 from the disposal of an asset to which the Eighth Schedule of the Income Tax Act applies; or
(iv) had taxable income, taxable turnover, an assessed loss or an assessed capital loss;
(b) Every trust that was a resident during the 2024 year of assessment;
(c) Every company, trust or other juristic person, which was not a resident during the 2024 year of assessment, that—
(i) carried on a trade through a permanent establishment in the Republic;
(ii) derived income from a source in the Republic; or
(iii) derived any capital gain or capital loss from the disposal of an asset to which the Eighth Schedule to the Income Tax Act applies;
(d) Every company incorporated, established or formed in the Republic, but that was not a resident as a result of the application of any agreement entered into with the Government of any other country for the avoidance of double taxation during the 2024 year of assessment;
(e) Every natural person who during the 2024 year of assessment—
(i) was a resident and carried on any trade (other than solely in his or her capacity as an employee); or
(ii) was not a resident and carried on any trade (other than solely in his or her capacity as an employee) in the Republic;
(f) Every natural person who during the 2024 year of assessment—
(i) was a resident and had capital gains or capital losses exceeding R40 000;
(ii) was not a resident and had capital gains or capital losses from the disposal of an asset to which the Eighth Schedule to the Income Tax Act applies;
(iii) was a resident and held any funds in foreign currency or owned any assets outside the Republic, if the total value of those funds and assets exceeded R250 000 at any stage during the 2024 year of assessment;
(iv) was a resident and to whom any income or capital gains from funds in foreign currency or assets outside the Republic was attributed in terms of the Income Tax Act;
(v) was a resident and held any participation rights, as referred to in section 72A of the Income Tax Act, in a controlled foreign company;
(vi) was a resident and had taxable turnover; or
(vii) subject to the provisions of paragraph 3, at the end of the 2024 year of assessment—
(aa) was under the age of 65 and whose gross income exceeded R95 750;
(bb) was 65 years or older (but under the age of 75) and whose gross income exceeded R148 217; or
(cc) was 75 years or older and whose gross income exceeded R165 689;

[Section 2(f)(vii)(aa)(bb)(cc) replaced gross income by Correction Notice, Notice No. 4948, GG50770, dated 7 June 2024]

(g) Subject to the provisions of paragraph 3, every estate of a deceased person that had gross income during the 2024 year of assessment;
(h) Every non-resident whose gross income during the 2024 year of assessment included interest from a source in the Republic to which the provisions of section 10(1)(h) of the Income Tax Act do not apply;
(i) Every person who is requested by the Commissioner in writing to furnish a return, irrespective of the amount of income or nature of receipts or accruals of the person; and
(j) Every representative taxpayer of any person referred to in subparagraphs (a) to (i) above.