AUTHOR: STEVEN JONES
It sounds crazy, but it happens more often than one would think…
MANY A taxpayer has experienced the wrath of SARS when failing to declare all of their income. The penalties for non-declaration of income are severe—up to 200% of the tax evaded as a consequence of having not declared an amount that is in fact taxable.
But declaring too much income? Is such a thing possible? My first thought when considering this topic was along the lines of “what kind of an idiot would declare too much income to SARS,” but then I realised that I was being a bit harsh. After all, we are all human, and anyone can make a mistake.
If you have made a genuine error on your tax return, which you then pick up once you get a bill from SARS for more tax than your annual salary, it is fairly simple to request a correction.
In the ‘old days’ this would entail requesting a fresh blank form from SARS, completing it with the correct details, and attaching all the supporting documentation together with a grovelling covering letter confessing that you are a complete imbecile, and would the kind folks at SARS please re-assess your return?
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