FAQ Blog Calculators Students Logbook Contact
Do your Tax with TaxTim and WIN R10,000  More info   T&C's apply


How to practically offset an assessed loss

Posted 29 January 2016

Allan says:
29 January 2016 at 15:02

Hi Tim, I owe SARS R240,000 for income tax year 2012. However, when I checked my compliance, I had not submitted an income tax return for 2011. So I submitted this and obtained an assessed loss of more than R1m. How do I practically use this assessed loss of 2011 to get rid of the 2012 debt of R240k on SARS SARS eFiling

TaxTim TaxTim says:
29 January 2016 at 15:29

You would need to call 0800 00 7277 to have them adjust this and reissue the assessment.

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.




Submit your tax return right here!

TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund
Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.