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SARS Refund is a large amount of money. Why and how?

Posted 10 July 2015 under Tax Questions



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Isis says:
9 July 2015 at 20:48

Hi

I just completed my tax return and my ITA34 (whatever it's called) showed an amount of R15 000 is refundable to me. Of course, SARS requested proof of documentation; I only uploaded my Retirement Tax Certificate and Medical Aid Tax Certificate - are there any other forms outstanding?

My question is: Why would I be (hopefully) receiving so much money? I started a new position (meaning higher salary and position upgrade) in September 2014 - could this have an impact?
Also, my Medical Aid contributions were R10 000 - could this affect the payment?

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TaxTimTaxTim says:
10 July 2015 at 8:17

It can be because of your new position and the way that tax is calculated on the overall income, yet each job deducts PAYE per their income they pay you. You should have uploaded your IRP5's as well. Did you do that?


Isis says:
10 July 2015 at 12:29

No. I didn't...will do so now


TaxTimTaxTim says:
10 July 2015 at 19:18

Let us know if you require any assistance.


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