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ITA34- Gives 0.00 as Net amouny payable but tax calculation result is "-18K".

Posted 27 September 2015 under Tax Questions



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Shri says:
26 September 2015 at 15:38

I submitted tax return (ITR12) for year 2013-2014 via SARS SARS eFiling and calculator shows that amount is -18K. But
ITA34 Notice of Assessment show "0" amount as net payable. What does this mean because I should be expecting 18K refund as per tax calculation pdf generated. Why ITA34 says "Net amount payable under this assessment after allowable credits
Compliance information:0. 00"???? Please help me to understand this.

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TaxTimTaxTim says:
27 September 2015 at 15:35

This tax calculator is provided as a service for taxpayers and is intended only as a general indicator of potential income tax liability based on the information captured on your Tax Return - it does not take into account any assessed losses, carry over amounts, additional tax, provisional tax payments, etc. It is not intended to calculate or reflect any final assessed tax legally owed by you or due to you - this will only be reflected in your ITA34 Notice of Assessment when issued.

You need to compare the Calculation Result to your Tax Assessment to see where the difference lies. There must be something not taken into account in the Calculated Result which is included on Assessment.


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