What happens when SARS owes you money?

Last Updated on September 21, 2023 by ufiling

When SARS (South African Revenue Service) owes you money, it typically means that you have overpaid your taxes or are eligible for a tax refund. In such a scenario, there are certain procedures you can follow to claim the money owed to you. Here’s an overview of what typically happens:

  1. Filing a tax return: If you believe that SARS owes you money, you would have initially filed a tax return, either online or through a physical submission. It’s essential to accurately complete your tax return, ensuring all relevant information is included, such as income, deductions, and any tax credits or rebates you may be eligible for.
  2. SARS assessment: Once your tax return is submitted, SARS will assess the information provided and calculate the amount of tax you owe or the refund you’re entitled to. This assessment process may involve further verification or audits by SARS to ensure the accuracy of the information provided.
  3. Notice of assessment: After reviewing your tax return, SARS will issue a notice of assessment, which outlines the final amount of tax owed or the refund due to you. If you have overpaid your taxes or are eligible for a refund, this notice will indicate the amount SARS owes you.
  4. Processing the refund: If you’re entitled to a refund, SARS will initiate the refund process. Generally, SARS aims to process refunds within 21 business days after the notice of assessment is issued. However, the timeframe may vary depending on various factors, such as the complexity of your tax return or any additional verifications required.
  5. Payment methods: SARS typically pays refunds through electronic funds transfer (EFT) directly into your designated bank account. Therefore, it’s crucial to ensure that your banking details provided to SARS are accurate and up to date. If there are any issues with the payment, SARS may contact you for further information or request additional documentation.
  6. Follow-up and inquiries: If you haven’t received your refund within a reasonable time frame or have any concerns or inquiries, you can contact SARS directly. They have dedicated helplines and online platforms where you can engage with their customer service representatives and address any issues or queries you may have.

It’s important to note that the specific procedures and timelines may vary, and it’s advisable to consult official SARS resources, such as their website or contact channels, for the most accurate and up-to-date information regarding your situation.

Top 15 Online Courses and Degrees to improve your employability

Technology and Computer Science Online Courses and Online degrees:

– Computer Science 101 Online Course from Stanford University through edX is a beginner-friendly course that introduces the core concepts of Computer Science, available for free with an option for certification for a fee.
– Programming for Everybody Online degree — Getting Started with Python** by the University of Michigan on Coursera is intended as an entry-level coding class, freely accessible with an optional paid certificate.

Web Development: Online Courses and Online degrees

– Introduction to HTML offered by Codecademy covers HTML basics for free, with advanced options available through paid upgrades.
– Dash by General Assembly is a free course that teaches HTML, CSS, and JavaScript through hands-on project learning.

AI and Data Science: Online Courses and Online degrees

Introduction to Big Data Online Courses provided by the University of San Diego via Coursera delves into the fundamentals of big data, available at no cost with a certificate available for an extra charge.
Machine Learning Online Degrees by Stanford University on Coursera is a broad course on machine learning, data mining, and statistical pattern recognition, free to access with optional certification.

Business and Management: Online Courses and Online degrees

The PG Diploma in Data Science Online Course from IIIT-B focuses on a variety of programming languages and tools and is developed in partnership with leading industry players.
– A Business Analytics Certification Online degree draws attention especially for those targeting analyst and managerial roles, covering essential tools for analytics and data visualization.

Cloud Computing: Online Courses and Online degrees

– The Advanced Certification in Cloud Computing is targeted at engineering graduates looking to fill roles such as Cloud Developer or Cloud Architect.

Project Management and Software Development: Online Courses and Online degrees

Online degrees in Project Management from leading universities incorporate essential management concepts and business communication.
– The MSc. in Computer Science Online degree from Liverpool John Moores University provides the same level of quality and exposure as on-campus degrees through an 18-month online format.

Cybersecurity: Online Courses and Online degrees

The Advanced Certificate Programme in Cyber Security by upGrad and IIIT-B offers an in-depth learning experience over 12 months, combining content hours, projects, and live sessions.

Platforms Offering Diverse Learning Opportunities: Online Courses and Online degrees

FutureLearn offers accelerated courses, microcredentials, and professional certificates across multiple fields with various payment options including subscriptions.
Coursera partners with over 275 universities and organizations worldwide, offering a wide range of degrees and professional certificates.
Udacity specializes in IT and technology courses, with nanodegrees and programs designed in collaboration with industry leaders.
– Codecademy focuses on coding and programming, providing free learning opportunities in various coding languages with additional professional development programs.

These courses and degrees are designed to equip individuals with in-demand skills across various sectors, enhancing employability and providing valuable certifications. Whether interested in technology, data science, business, or other areas, these online resources offer flexible and comprehensive ways to learn and advance in your career.