[Question] ANNUITY DEDUCTiBLE TAX BENEFIT ERROR????

[Patsy]

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,

[dellatjie]

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

[Patsy]

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!

[Ashna Singh]

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.