SARS E-Filing 2015

CamiKaze said:
Ok so from what I gather, most of you guys are scoring because you have an RA set up right?


Which company did you guys go with for your RA and income protection?
Can you also perhaps tell me what the monthly deductions are from the companies that does your RA and income prot. for you?
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Just take into account that income protection is no longer a tax benefit.

Edit to say for RA... look at the big boys like Allan Gray, Corronation, Liberty, Sanlam, etc.
Best is to get a financial adviser that can advise you personally.
 
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CamiKaze said:
Guys... please help me understand why I owe these people money single year.

I rarely get sick so nothing is needed on the medical aid side of things. It's a hospital plan in any case.
I do not have any accounts with anything or anywhere and all I pay for is my car, my house, my food and petrol. That is it. So WTF?

might I add that I have no clue as to how to go about doing my filing and their help desk actually helped me to complete it?
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1. Your employer is deducting your tax incorrectly - you are not paying enough each month. Go talk to your payroll administrator. For businesses using payroll software like VIP etc this will most likely not be the case.

2. Despite that your employer deducts your med aid and you have nothing extra to declare, you still have to declare on assessment the number of dependents and values. I think this is where you loose your money. Look for the section on med aid and complete everything you can by matching up values on your contribution certificate to the codes on it to the assessment codes on eFiling form.

If you are prepared to resubmit, just know they will request your documentation - contribution certificates.
 
CamiKaze said:
Ok so from what I gather, most of you guys are scoring because you have an RA set up right?


Which company did you guys go with for your RA and income protection?
Can you also perhaps tell me what the monthly deductions are from the companies that does your RA and income prot. for you?
Click to expand...

Income protection payments will not be claimable for next years e-filing and in the future, but the payouts when that policy is used won't be taxed as income anymore. My Frank.net retrenchment cover contribution will thus not be a deductible anymore.

I have a Coronation RA. I earn some non retirement income (NRI) income, 15% of that income is deductible and the reason I am getting some money back.
 
semaphore said:
If its asking for documentation, it means something does not add up, if you have not been selected for audit you may be.
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Not always so.

If you have a brand new RA for the first time declaring it of say 15%, you will be audited, even if all adds up.
All new claims are flagged and sometimes questioned.

Also...
I got audited once due to donations changing from a little one year to a lot the next year.
 
Bokkie_ said:
1. Your employer is deducting your tax incorrectly - you are not paying enough each month. Go talk to your payroll administrator. For businesses using payroll software like VIP etc this will most likely not be the case.

2. Despite that your employer deducts your med aid and you have nothing extra to declare, you still have to declare on assessment the number of dependents and values. I think this is where you loose your money. Look for the section on med aid and complete everything you can by matching up values on your contribution certificate to the codes on it to the assessment codes on eFiling form.

If you are prepared to resubmit, just know they will request your documentation - contribution certificates.
Click to expand...

I am the only person on the med aid scheme.
 
Pitbull said:
- R7377.03

I can't submit it yet as I haven't received my IRP5 yet... Too scared there might be a mistake and I get audited again. Just did the calculation. Now to wait for the IRP5 all the other things are correct and verified. Just not my IRP5.
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+1 Did mine last night, SARS owes me about 4400, which I plan to spend on booze. Now if my accountant will just wake up and give me my IRP5...
 
Pitbull said:
He went on Pension last year not so?

Could be part of the reason.
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Surprisingly the calculations done by my ex-employer and my new paymaster were pretty accurate and included three tax directives. Most of the refund is due to RA's that I still contribute towards and a bit of medical..
 
MickeyD said:
Surprisingly the calculations done by my ex-employer and my new paymaster were pretty accurate and included three tax directives. Most of the refund is due to RA's that I still contribute towards and a bit of medical..
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When did you retire? After 28/02/2014?

Edit: Btw, what's with the Gay Hitler picture? :D
 
MickeyD said:
6 months working
6 months retired


Blame InSanity and Ook for that!! :p
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I'm also owed around the R20k mark, but I didn't even claim my personal retirement annuity. I made a net loss on my investments so I didn't bother adding that in either, just local interest on bank accounts. Still got selected to submit documentation. Oh well. :/
 
It appears that there are a lot more "documentation required" requests in this thread compared to last year if memory serves.

My guess is, as things get so much tighter for the government and their spending, they are going to check more and more claims in the hope of reducing refunds....
 
FlashSA said:
It appears that there are a lot more "documentation required" requests in this thread compared to last year if memory serves.

My guess is, as things get so much tighter for the government and their spending, they are going to check more and more claims in the hope of reducing refunds....
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It doesn't change anything to the funds due. Just prevents fraudulent claims. That being said, They do seem to lift the minimum required to file year on year to try and not refund the lower brackets. If you don't submit you can't get a refund. I recall it being R 60k yearly at one stage. It's now R 350k. So just about 80% of the country doesn't need to file returns.
 
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