SARS E-Filing 2021/22

I was auto assessed last week Thursday or Friday and the money was in my account Monday morning
 
My refund is dated for today. Received nothing as yet. I do believe there is a 72 hour delay. Let's see.
 
At last, on day 21 after submitting supporting docs, both my wife and I got a message that a SARS official has been assigned. Wife's assessment finalized, still waiting for mine though. But at least there is progress now.
 
Nerfherder said:
Its relative to your earnings and how much you spend per month. I spend about 7k on medical aid and 3.5k on RA's and got 16k back.
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Hi,the medical aid credit is not relative to earnings, obviously assuming you earn over the tax threshold.

Previously with the deductions, higher earners got more back but now that it's a tax credit and not a deduction, it's more equitable
 
8mat said:
View attachment 1349464
Looks like tomorrow is D-Day
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Mine said the said the same thing... had to call SARS to ask what was going on. They told me that the refund has been reversed as I as I needed to submit supporting docs (for 21 & 22 :mad:) despite no notifications to do this on eFiling.

If your refund doesn't come through, I'd suggest calling them but good luck with this and budget about 3 hours of call waiting
 
Dee96 said:
Hi,the medical aid credit is not relative to earnings, obviously assuming you earn over the tax threshold.

Previously with the deductions, higher earners got more back but now that it's a tax credit and not a deduction, it's more equitable
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Not quite true
Depending your age and weather you are a person with a disability there are different formulas to determine the additional tax credits.
Here is the formula of a person under the age of 65 I think that contributes to a medical aid and have some qualifying expenses not covered by the medical aid.

Calculation of AMTC
A = Contributions to a medical aid or fund
B = MTC
C = Qualifying medical expenses
D = Taxable income - excluding any retirement fund lump sum benefit, retirement fund lump sum withdrawal benefit and severance benefit

Formula to calculate AMTC:

AMTC = 25% × {[A − (4 × B)] + C] − (7,5% × D)}

There are different formulas for persons over 65 and those that is disabled
 
Quick question... If the refund from SARS has been deposited into your banking account and reflecting, can they later on say it's been reversed and they want docs etc?

Or once it's in your bank account it's done and dusted. Those naaiers mos then cannot reverse it correct?
 
Muttley said:
Mine said the said the same thing... had to call SARS to ask what was going on. They told me that the refund has been reversed as I as I needed to submit supporting docs (for 21 & 22 :mad:) despite no notifications to do this on eFiling.

If your refund doesn't come through, I'd suggest calling them but good luck with this and budget about 3 hours of call waiting
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I see. On my side I have already gone through verification which has completed. So I should be getting my refund tomorrow. I'll update if it gets reversed again, in which case, I will have to call in as well.
 
8mat said:
I see. On my side I have already gone through verification which has completed. So I should be getting my refund tomorrow. I'll update if it gets reversed again, in which case, I will have to call in as well.
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how often does it update? is your 72 hour wait up?
 
Nemesys said:
Not quite true
Depending your age and weather you are a person with a disability there are different formulas to determine the additional tax credits.
Here is the formula of a person under the age of 65 I think that contributes to a medical aid and have some qualifying expenses not covered by the medical aid.

Calculation of AMTC
A = Contributions to a medical aid or fund
B = MTC
C = Qualifying medical expenses
D = Taxable income - excluding any retirement fund lump sum benefit, retirement fund lump sum withdrawal benefit and severance benefit

Formula to calculate AMTC:

AMTC = 25% × {[A − (4 × B)] + C] − (7,5% × D)}

There are different formulas for persons over 65 and those that is disabled
Click to expand...
Ok I see what you are referring to. In your initial post, you mentioned the medical aid Tax Credit which is not relative to earnings but were actually referring to the Additional Medical Expenses Tax Credit.

Same same but different...thanks for the detailed reply
 
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