Do you need to submit a return?

Question 1:

Do any of the following apply to you for the tax year 1 March 2023 to 29 February 2024?

• Did you conduct any trade* in South Africa?
• If you are a South African tax resident, did you conduct any trade or employment outside South Africa?
• Did you receive an allowance such as a travel, subsistence or office bearer allowance?  Check your IRP5/IT3(a) if unsure.
• Did you hold any funds in foreign currency or assets outside South Africa that have a combined total value of more than R250 000 at any stage during the tax year?
• Did you have Capital Gains or Capital Losses exceeding R40 000?
• Was any income or a Capital Gain from funds in foreign currency or assets outside the Republic attributed to you?
• Do you hold any participation rights in a Controlled Foreign Company?
• Did you receive an Income Tax Return or were you asked to submit an Income Tax Return for the tax year?
• If you are a South African tax resident with a micro business, did you have a taxable turnover for turnover tax?

*The term "trade" for finding out whether to submit a return means every profession, trade, business, calling, occupation or venture, including the letting of any property but excluding any employment.