People that were selected for the tax auto-assessment process should expect their tax refund to be paid within 72 hours, according to the South African Revenue Services (Sars).
The taxman said the refund would take about 72 hours from the date on which Sars issued the auto-assessment to taxpayers on eFiling or Sars MobiApp.
According to the Tax Consulting SA, the tax auto-assessment process is when Sars receives data from third-party providers such as employers, medical schemes and retirement annuity funds.
The information from the third-party providers is then pre-populated on the taxpayer’s tax return. Taxpayers need to remember that information like additional income will not be included in the auto-assessment.
Following this process, Sars will issue the taxpayer with an auto estimated assessment based on the data.
People should avoid going to a Sars branch or calling them if they have not received their tax refund.
“If your banking details are correct, there are no outstanding returns, and no verification required by SARS, your refund will be paid within 72 hours of issuing the Notice of Assessment,” Sars said.
People should take note if the refund is less than R100, then the refund is rolled over to the next tax year.
According to Sars, this means that a refund is not paid out to the taxpayer but will remain as a balance until it exceeds R100. Once the account exceeds R100 it becomes payable. Taxpayers can view their account on SARS eFiling or the SARS MobiApp.
If a refund is due to you, no need to call SARS or go to a branch. If your banking details are correct, there are no outstanding returns, and no verification required by SARS, your refund will be paid within 72 hours of issuing the Notice of Assessment: https://t.co/0nuKqe7NDI pic.twitter.com/oeK2HnsQte
— SA Revenue Service (@sarstax) July 10, 2024
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