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What do we want? Our refunds from SARS.

When do we want it? We’re not being unreasonable so within 72 hours of completing and submitting our tax returns like we were told would be the case.

Social media is full of South Africans wondering (pleading) where their refunds are, having been quick of out the blocks come July 1.

That was the opening day of tax season for individuals and will run until October 24 for those who file online.

However, there’s been a delay which we’ll get to in a moment. Before that, it’s worth watching this short video regarding the auto-assessment SARS provides for selected individual taxpayers.

There has been a major change this year. If the taxpayer finds that there is missing and/or inaccurate information which may have affected the outcome, it must be declared to SARS within 40 business days of the auto assessment notification.

In other words, the clock is ticking and you can’t just leave it until the final few days to get your paperwork and submissions in order.

This short SARS explainer touches on the above with a little more detail:

Going through my tax return step by step is pretty harrowing but I don’t make many additional claims outside of what information is already available to SARS so it’s not too much work.

On the other hand, if you are submitting additional claims, getting help from expert consultants like Galbraith | Rushby is never a bad idea.

100% agree with the below.

Another thing – SARS takes no responsibility for an incorrect auto assessment.

The taxpayer will be held liable for any mistakes or anything that’s missing or omitted. https://t.co/uBs92dHTwb

— André Bothma (@AndreBothmaTax) July 6, 2022

Once you’ve done the hard yards and you’re due a refund, the clock starts ticking on that 72 hours SARS told us it would take.

Scratch that – to save you the panic of asking around if you’re the only person still waiting, SARS communicated this last Thursday:

NOTICE

SARS is aware that some refunds may be taking a bit longer to pay than the 72 hours that we communicated in our initial correspondence to taxpayers. SARS is currently processing large volumes of refunds and we expect to have processed these refunds by next week.

— SA Revenue Service (@sarstax) July 7, 2022

If they stick to that “by next week” you should have extra dosh in your account sooner rather than later.

Petrol, inflation, the price of a two-pack of ripened avos – it couldn’t come at a better time.

Spend it wisely.