The South African Revenue Service (Sars) has allowed fund members to monitor the status of their applications two-pot retirement system. Picture: File
The South African Revenue Service (Sars) has revealed that South African fund members can now check the status of their two-pot retirement system application.
In a statement, Sars said that taxpayers can now check the progress of their two-pot directive application through WhatsApp or the Sars USSD channel.
The feedback that fund members receive on the progress of their application will indicate one of the following: In Progress, Declined, or Finalised.
If there is no directive application, the feedback will be: there are no tax directive applications received on the tax reference number provided.
To get feedback on the progress of a tax directive application, fund members need to follow these three simple steps:
– USSD: Dial the SARS service code and select “Two-Pot Progress”
– WhatsApp: Send “Hi” to the SARS WhatsApp number, tap on the menu option and select “Two-Pot Progress”
– South African ID number
– Tax Reference Number
The status of your tax directive application will be displayed and sent via SMS.
Sars has updated the figures for the tax directives received concerning withdrawals from the savings withdrawal benefit under the new two-pot retirement system.
South Africa’s tax authority has revealed that as of November 18, 2024, a total of 2,153,942 directive applications were received and a total of 1,914, 306 directives issued with a total gross value of R35,052,572,876.62.
“Since its inception, Sars has observed an unprecedented and steady increase in tax directive applications, likely reflecting the economic challenges faced by households,” Sars said.
The difference between directive applications and directive issued is accounted for in the following manner:
– 169,509 applications were declined for a various of reasons, ranging from systems failures due to fund management entities to wrong identification number, wrong tax number etc.
– 41,523 directives were declined because of insufficient funds, wrong codes etc.
– 28,525 directives were cancelled by taxpayers who changed their minds.
Sars has also announced that the simulated WhatsApp calculator was used 53,693 times since it was implemented.
Sars Commissioner Edward Kieswetter has cautioned South African taxpayers to avoid any actions that could constitute criminality and highlighted the importance of using the accurate identity and tax numbers when applying for this benefit.
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