Got an SMS from SARS? You Don’t Need to Submit a Tax Return

Did you get an SMS from SARS? If you received a simulated tax calculation from SARS, you could get to skip submitting a tax return. 

The revenue collector has said that it has access to many sources of information about taxpayers, which includes information that is already on the SARS system. 

This means that SARS can make a tax calculation and arrive at an outcome without you having to do anything. The outcome will show if you would receive a refund or if you would owe SARS money if you were to file a tax return. 

The reason that you are getting a tax calculation this year is because last year you filed a tax return when you were not required to do so.  The tax calculation was introduced as a way to assist taxpayers so that they can avoid unnecessary visits to branches during tax season. 

According to SARS, if your financial circumstances haven’t changed since February 2018 then you will not be required to file a return. If your circumstances have changed then you may file a return still, however, it is a good idea to use the eFiling system or the SARS MobiApp to avoid the queues. 

No Refunds Under R100

Also, SARS went on to say that they are only allowed to refund an amount, which is more than R100 according to the terms of the current tax legislation. It’s not cost effective to collect or refund an amount that is below R100 as usually a cost is involved when doing this. However, the tax debt doesn’t just vanish, but rather it remains due by or to the taxpayer and is carried forward and will be added to a future a tax refund of more than R100 or is offset on future tax debt. 

Article Source: https://businesstech.co.za/news/finance/332921/if-you-get-this-sms-you-dont-have-to-submit-a-tax-return/