How Do I Know if SARS Owes me Money?
The South African Revenue Service (SARS) is mandate with collecting taxes from people in the country. They may not be the most popular of government services, but they play a crucial role in ensuring that the country continues to operate smoothly. Taxes are the fuel that drives government. Without them, the whole country would likely grind to a standstill. You are here because you suspect that SARS owes you money. You have been asking yourself “how do I know if SARS owes me money?”
Does SARS owe me money?
The following is how to find out if SARS owes you money:
- Check your SARS account online: Head over to the SARS efiling website and log in to your account using your username and password. Once logged in, click on SARS Correspondence. Next, click on Request Historic IT Notices. Choose the I want to request a Statement of Account option and click Next. Choose the date as an example 6 months to date. Click on the Request button. Now click on Click here to view your Statement of Account. The Statement will open in a new tab.
- Use the SARS Mobi App: You can also use the SARS mobile app (the mobi app) to see whether or not the service owes you money. Open the app on your phone and Log in. Once logged in, click on My Services. Next, go to IT Statement of Account. You will see the money that you are owed under Balance. If you see a negative Balance, it means SARS owes you money. If it’s a positive balance, it means you owe SARS money. You can click on View SOA at the bottom of the screen to view a full Statement of Account. You can download the Statement of Account.
- Check your tax returns: Dig out your old tax returns (going back a few years, if possible) and review them. Look for any refunds or credits that might be due to you.
- Contact SARS directly: If you’re unsure or can’t find any information online, give SARS a call on 0800 00 7277 (from within South Africa) or +27 11 602 2093 (from outside the country). They’ll be able to assist you with your query.
Why might SARS owe me money?
That’s the answer to the question how do I know if SARS owes me money. If you discover that you are indeed owed something, then it’s a good thing. You can claim a refund from authority. But under which circumstances would the revenue service end up owing you? The following are some of the scenarios under which that might occur;
- Overpaid taxes: If you’ve paid too much tax, SARS might owe you a refund.
- Tax credits: You might be eligible for tax credits, like the Medical Scheme Fees Tax Credit or the Rebate on Retirement Annuity Fund Contributions.
- Refunds from previous years: If you’ve filed your tax returns and are due a refund from a previous year, SARS will still owe you that money.
What to do if SARS owes you money
If you’ve discovered that SARS owes you money, you have a couple of options. Note that not all monies that are owed can be refunded. As an example, the Medical Scheme Fees Tax Credit can only be credited to your account for the next SARS tax cycle. In some instances, you can submit a refund request and money will be returned to you.