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How to read negative refund amount in assessment

Posted 25 September 2013 under Tax Q&A


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Hi TimMy assessment letter says "Net amount refundable under this assessment after allowable creditsCompliance"and then shows a negative amount. Technically this would mean I owe SARS as a negative 'refund' means the oposite of a refund but I am not sure what they intend it to mean.What should I take this to mean?Thanks!

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TaxTim TaxTim says:
25 September 2013 at 1:09

This means you are due a refund, the negative means a refund despite the very confusing SARS language. The negative amount is because they communicate in terms of their books, so you represent a negative asset, a liability - so they owe you money.


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