Last Will and Testament
October 3, 2016Due date for annual financial statements – 6 months after year end
October 3, 2016
Please note that for almost all refunds SARS has issued a “Special Stopper”. This is effectively a system-generated hold, placed on your tax account, and requires re-verification of (pre-existing) taxpayer information. In many cases this information has been on the system for years. For example: bank details, where you have used the same bank account for the last 20 years!
This verification must be performed directly by the taxpayer. We, as your registered Tax Practitioners, are not permitted to represent you at SARS. The queues at SARS can be hours long, and refunds are significantly delayed. There have been situations where refunds have been released and then reversed a few days later, subject to the Special Stopper. A once-off visit to a SARS Branch also does not ensure the subsequent smooth processing of the refund, as follow up repeat visits are often requested for additional information.
This process is very time consuming and has resulted in major cash-flow disruptions for taxpayers. Tax Practitioner Bodies are engaging with SARS in an urgent attempt to resolve this matter.
We request your patience with us in the interim, and apologise for any inconvenience that may have been caused.
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)