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Individual Taxpayers Errors on Assessments

It was noted that on certain income tax assessments, the retirement annuity amount brought forward from previous year, was incorrectly included by SARS as R1 for a number of income tax returns (especially returns done at the beginning of the tax season).

SARS has now done a re-assessment and updated this amount but have re-quested all supporting documentation again.

 

If your retirement annuity amount carried forward from prior year was actually R0, you will receive an additional assessment for a few cents to adjust for this. And SARS has the right to do this according to the tax administration act.

 

But when the amount carried over from previous years for retirement annuity should actually have been greater than R1, a reduced assessment will be issued. But supporting documentation will need to be submitted again.

 

Please bear with us. This is not a huge problem. We have picked this up and scrutinising the calculations done by SARS to ensure that it is 100%.

 

This is the first year with the new implementation of the retirement fund deductions and it seems that SARS’s system are experiencing some errors.

 

Please send all correspondence to us received from SARS and we will action as soon as possible.

 

If you have any questions please contactus@anlofin.com or 0116581324

Annja Louca