Spending your Tax refund

[DarkStarZA]

With tax season now in full swing, when are you planning to submit and what will you be spending your SARS bonus on?

I am getting a last few numbers in order and will be submitting soon.

Can't decide on a new gfx card, a new handgun (or both) or paying off the Credit Card. There is the glaring "right thing to do" but sometimes you have to spoil yourself. Will see when the money lands. Previous years I waited till December and used it for holiday money, but this year I want stuffâ„¢.

 

[Wyvern]

I submitted mine on the 1/07/15 still waiting on the refund. I need it to pay unisa tho

 

[TBlaar]

I got 53 cents. I will do nothing with it...

 

[Cronus086]

I got 53 cents. I will do nothing with it...

 

[blaaislaai]

Bought groceries with mine, which was 2 weeks ago already. Got about R1600 back iirc

 

[Tom]

I got back about 4k, My tax man is the BOMB

I put it all into my credit card... That way I can buy stuffâ„¢... With my credit card... "whistling:

 

[Solitude]

Mine is going into the home loan. I still have to do my tax though.

 

[czc]

I only got a refund one year. Rest of the time nothing.

 

[Dohc-WP]

i never get refunds

i have a pretty shitty accountant

 

[Hagan]

What the hell is a tax return? Totally kidding.

How much must you earn to be taxed?

 

[Avatar]

What the hell is a tax return? Totally kidding.

How much must you earn to be taxed?

R70 700 for the year. http://www.sars.gov.za/TaxTypes/PIT/Pages/default.aspx

 

[Hagan]

R70 700 for the year. http://www.sars.gov.za/TaxTypes/PIT/Pages/default.aspx

Lol, I'm way below that.

 

[BeoTeK]

R70 700 for the year. http://www.sars.gov.za/TaxTypes/PIT/Pages/default.aspx

I thought it moved up to something insane like R350k back in March?

 

[Weasley]

i never get refunds

i have a pretty shitty accountant

nope means you have good accountant. you did not give the goverment intrest free loan

 

[DarthMol]

I thought it moved up to something insane like R350k back in March?

That total means that you don't have to submit a return - unless you have items you can get rebates for then it would be a good idea to complete a return.

 

[BeoTeK]

That total means that you don't have to submit a return - unless you have items you can get rebates for then it would be a good idea to complete a return.

The only things I used to claim for were from medical expenses. Can I still claim now that I'm under the tax bracket of forementioned amount (if the amount is true)?

 

[DarthMol]

The only things I used to claim for were from medical expenses. Can I still claim now that I'm under the tax bracket of forementioned amount (if the amount is true)?

Of course. You can still complete the return as usual to claim back for medical expenses. The under 350k bracket means you can be lazy and not do a return because you are exempt (i.e. no penalties as the return is automatic), but obviously this means claims for rebates aren't taken into account.

 

[czc]

I thought it moved up to something insane like R350k back in March?

The prevailing theory is that they have done that so that they don't have to refund people. They get to keep more money. I would file anyway, it's just a few clicks on e-filing.

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What the hell is a tax return? Totally kidding.

How much must you earn to be taxed?

You're always being taxed.

 

[Hagan]

The prevailing theory is that they have done that so that they don't have to refund people. They get to keep more money. I would file anyway, it's just a few clicks on e-filing.

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You're always being taxed.

On your paycheck?

 

[czc]

On your paycheck?

I was thinking VAT. Every time you buy something.