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Does -10c balance mean I'm not owed? I know I have been paying tax.

Posted 29 August 2013

Hi Tim! I submitted my tax return for 2012 and 2013 last week Friday. I wanted to claim in case I was owed. Afterwards I got an email and an SMS saying -10cents due. What does it mean?

TaxTim TaxTim says:
30 August 2013 at 0:21

It means that 10cents is due as a refund to you, but because it is under the R100 threshold you will not receive payment. Instead it will be credited to your account and offset against your next year's tax payment. You will even earn interest on it.

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