What should I do if I want to exclude my spouse from communal estate due to a legal contract?
You may access your return where the Investment income section appears. Search for the Interest Income that you wish to exclude from communal estate, then select “Mark here with an “X” if this amount should be excluded from the communal estate (if married in community of property)” The amount will then be taxed 100% upon […]
What should I do if I am divorced from my spouse?
You may request for correction and amend your marital status from “Married in community of property” to “Not Married (Single, Divorced, Widow/Widower)”
What should I do if I am separated from my spouse?
You may inform SARS of the separation by completing RRA01 Form or lodging a dispute.
Where do the amounts found on my return come from?
SARS has identified you as married in community of property based on your previous declaration and has further verified this information against the Department of Home Affairs. Where a match is confirmed, you and your spouse will be linked as follows: If investment income is identified for you based on third party data received (e.g. […]
What does POPI act say about the communication around the ‘Married in Community Spousal Assessment’ ?
In compliance with POPI Act, SARS may notify the other partner where they are married in community of property about the interest on the investment concerned. Where appropriate, consent may be sought. However, where the exceptions allow for SARS to process the personal information concerned, consent will not be necessary as in terms of sections […]
What are the tax implications if I am married in community of property?
If you are married in community of property, you are taxed on half of your own interest, dividend, rental income and capital gain, and half of your spouse’s interest dividend, rental income, and capital gain.
Why would a taxpayer no longer be on the SARS fixed tax rate list if they were on it last year?
The calculated tax rate is valid for a tax year i.e., 12 months. Taxpayer circumstances may change therefore, we relook at the taxpayer inclusion each year to determine the most accurate tax rate in accordance with the taxpayer financial information we have on our records.
Is the new legislation applicable only to taxpayers with more than one annuity income?
The legislation applies to taxpayers who receive multiple sources of income, one of which is from a retirement fund. Note, where a taxpayer receives a salary and an annuity, such taxpayers are also included under this legislation: Example: A young widow that is employed as an educator by the dept of education and receives a […]
If I am a provisional taxpayer and I am in agreement with the new rate, must I still pay provisional tax?
As a provisional taxpayer, you are unlikely to be included in this process therefore, a tax rate calculated under Para2(2B) of the 4th Schedule will not be issued to you. You may inform your fund administrator in writing of your wish to be taxed monthly at the SARS fixed rate.
FAQ: How does a pensioner confirm that they are not or are no longer on the fixed tax rate list calculated under the new legislation namely, Para2(2B) of the 4th Schedule?
The fund will have the latest list of impacted taxpayers each year. You must contact the pension administrator to confirm if you have been included each year.
