Tax season opened on the 1st of July, and today, on the 4th of July, the first batch of refunds were paid!

Sars has assured 7 day-turnaround for the returns with no verifications, so once again, smooth sailing as long as SARS doesn’t need to review your documents.

I wanted to just run through the tax return process ~

• File your return online

Make sure it’s correct. A lot of info is pre-populated, such as your IRP5’s, medical aid and retirement annuities. Check these against your certificates. Once you are happy, please check the tax calculator first!! Don’t file until you have checked this as it can be difficult to revise an assessment. If the calculator looks very wrong, chat to an accountant! Everything look good on the calculator? Then save it anyway, and file.

• Check your assessment

It should match your calculator most of the time. Any big differences, you may need to chat to an accountant.

• Check if you need to upload documents

If SARS requests to view your documents, you should get an email. You can also see it on your 2018 tax return page / there will be an upload link stating waiting for documents to be uploaded. You can upload 20 attachments up to size of 5MB each. Make sure you get them all uploaded to avoid problems or delays.

• No request?

Check your tax statement every day and there should be a refund date within 7 days showing a zero tax account.

• Uploaded. What now?

Sars has 21 working days to review. If they are happy, you should receive an email of a Completion Letter which means they agree with your return and it was accepted. Check on your statement then daily and your refund should be paid within 7 days. You could receive another request for an upload, usually it’s a letter with specific details; or… you could receive a revised assessment which is for less than you originally claimed.

• I didn’t get my refund.

If everything is in order (completion letter received, or no request to upload documents), then phone Sars. It may be that there is an old return outstanding or old monies due, or they might need you to go into Sars to verify your personal and bank details.

Catch my next post, I’ll chat about what to do if you run into a problem and get stuck in a SARS loop!

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