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What does an sms from SARS with two minus figures mean?

Posted 28 September 2012 under Tax Q&A


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Hi I've received an sms from SARS with two amounts with a minus sign in front of it, what does that mean? Do I owe SARS that money?

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.

TaxTim TaxTim says:
24 September 2012 at 21:53

If there are "-"'s in front of the figures that should mean that you are due a refund by SARS.

What was the message exactly?

Rod says:
24 September 2012 at 22:07

Thank you for filing your 2012 tax return Assessment Result: R-168 Account Balance: R-72 Selected for Audit: No

TaxTim TaxTim says:
24 September 2012 at 22:10

This means that for the 2012 year you are due a refund of R168, but due to previous year's results the actual balance owed to you is R72. SARS does not pay out refunds for less than R100 so this is going to carry forward to next year.

lulu says:
9 October 2012 at 18:56

What does it mean if it says -Audit:Yes

TaxTim TaxTim says:
9 October 2012 at 22:46

Hi Lulu,

This means that you will be sent a letter either via the post or eFiling asking you to submit all the documents you used to complete your tax return. Look out for this letter, you will have 21 days from the date of the letter to send SARS all the supporting documents.

Regards,
Tim


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