SARS E-Filing 2019 OPEN!

frodob

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Feb 21, 2012
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187
During the 2019 assessment period I've contributed too much money towards my retirement. This resulted in an amount of R 26555 being carried-over.
I would like to top-up my retirement annuity for the 2020 assessment period to fully utilize the 27.5% deduction threshold.

Should I subtract the carried forward amount from the top-up amount or can I ignore it and pay the full 27.5% towards the annuity? :)
Yes, subtract the carried over amount. You can of course contribute 27.5% of your 2020 FY income, and the R 26,555.00 will be carried over again, where it will grow tax free.
 

LaraC

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Mar 11, 2014
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Yes, subtract the carried over amount. You can of course contribute 27.5% of your 2020 FY income, and the R 26,555.00 will be carried over again, where it will grow tax free.
Awesome, thank you. :)

ps. Are there no penalties in having a carried over amount?
 

frodob

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Joined
Feb 21, 2012
Messages
187
During the 2019 assessment period I've contributed too much money towards my retirement.
There's no such thing as too much. There's only a limit on the amount you can claim as a tax dedication (i.e., the 27.5%). There's no penalties for carrying over, and when you want to retire, any amount carried over amount can be taken back tax free (as you have already paid tax on this amount). This is in addition to the tax free lump sum one may take at retirement (R 500,000.00).
 

SAguy

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Nov 4, 2013
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Is anyone still waiting for their refund? Submitted audit documents in October already.
 

phiber

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Dec 7, 2005
Messages
4,280
Is anyone still waiting for their refund? Submitted audit documents in October already.
Have they sent you back a revised assessment?

I submitted Audit docs in Jan, got my revised assessment (minor adjustment) this week. Hoping to see my refund in a week or 2. I'll keep this thread posted
 

phiber

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Dec 7, 2005
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Is anyone still waiting for their refund? Submitted audit documents in October already.
My refund got paid yesterday. If you think you're due one and have done all the necessary paperwork, then you should give them a call.
 

LaraC

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Mar 11, 2014
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40,496
Slightly off topic.

I've made a successful Provisional Tax payment on 2020-02-28 for the 2020 tax year.
SARS refunded it today and added a late payment penalty.

How can I challenge the penalty they added. The payment was made before the due date. :(

ps. Should I pay the penalty and complain later?
 

phiber

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Dec 7, 2005
Messages
4,280
Slightly off topic.

I've made a successful Provisional Tax payment on 2020-02-28 for the 2020 tax year.
SARS refunded it today and added a late payment penalty.

How can I challenge the penalty they added. The payment was made before the due date. :(

ps. Should I pay the penalty and complain later?
Your best bet would be to get on the phone to them and ask what happened
 

LaraC

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Mar 11, 2014
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Your best bet would be to get on the phone to them and ask what happened
SARS responded that they experienced an system error which resulted in eFiling provisional tax payments not going to the correct account. Had to redo the payment and I'm hoping for the best.

I was so ready for a fight because I had all the proof that they were in error. :D
 

phiber

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SARS responded that they experienced an system error which resulted in eFiling provisional tax payments not going to the correct account. Had to redo the payment and I'm hoping for the best.

I was so ready for a fight because I had all the proof that they were in error. :D
That's great! Did they say anything about removing the penalty?
 

LaraC

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Mar 11, 2014
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That's great! Did they say anything about removing the penalty?
After paying I requested a Provisional Statement of Account. The penalty was added again because of the new payment date.

My only option was to pay the penalty. I'll have to wait for the 2020 tax season to open to register a remission against the penalty. :(
 

KingBel

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Dec 30, 2010
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2,342
After paying I requested a Provisional Statement of Account. The penalty was added again because of the new payment date.

My only option was to pay the penalty. I'll have to wait for the 2020 tax season to open to register a remission against the penalty. :(
Rather put in the dispute now. You don’t wanna wait till tax season. It will be extremely busy then.
 

LaraC

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Mar 11, 2014
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Rather put in the dispute now. You don’t wanna wait till tax season. It will be extremely busy then.
There isn't an option to submit a remission or dispute for Provisional Tax payments on eFiling. :(
 

LaraC

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Mar 11, 2014
Messages
40,496
My request for remission was successful and SARS reversed the late payment penalty. :)

I am disappointed in them that they did not reversed interest on the penalty and that it cannot be refunded.
Is it legal to charge interest on a penalty that was awarded in error? :(
 

spidaman

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Dec 7, 2007
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My refund got paid yesterday. If you think you're due one and have done all the necessary paperwork, then you should give them a call.
I did. The response I got was they are still investigating. I don't know anymore now.
 
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