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Thread: ANNUITY DEDUCTiBLE TAX BENEFIT ERROR????

  1. #1
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    Unhappy ANNUITY DEDUCTiBLE TAX BENEFIT ERROR????

    Could anyone please assist with my query:

    As my annuity is off course a tax deductible when doing the Income Tax, the calculation result from SARS reflects a seemingly higher amount, although the correct amount was taken from the Annuity tax certificate and entered into the Income tax form.
    I have never in all the years of submitting my income tax come across this. Off course I don't mind getting a higher refund then I should, but this is not correct!

    Is there perhaps a new legislation with regards to this for the Feb 2015 tax year?

    If anyone can shed light on this, I'd greatly appreciate it!

    thanks,

  2. #2
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    Isn't there an amount carried forward from a previous year that couldn't be used as a deduction?

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    Thanks for your response - no, there was most definitely no balance carried forward.

    I will have to approach SARS with this - they might be the only ones with an answer.

    thanks again!

  4. #4
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    Hi Patsy

    As per SARS - 2014/2015 guide: R1800 of any arrear R.A is carried forward.

    Check if this figure does tally with the difference you have on your return.

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