At least 41,000 people who applied for the withdrawal of their pension funds in the two-pot system were declined because they did not have enough funds.
The system kicked in on September 1 and it allows taxpayers access to the pension fund and people can withdraw between R2,000 and R30,000 in one tax year.
According to Sars, the latest figures released on Tuesday morning, 41,523 directives were declined because of insufficient funds and wrong codes, among other things, while 28,525 directives were cancelled by taxpayers who changed their minds. The taxman also said a further 169,509 applications were declined for a myriad of reasons, ranging from systems failures from the fund management entities to wrong identification numbers and wrong tax numbers.
“From 18 November 2024, 2,153,942 directive applications were received and a total of 1,914, 306 directives issued with a total gross value of R49,5bn,” said Sars commissioner Edward Kieswetter.
He said many taxpayers have used SARS's WhatsApp calculator 53,693 times since the implementation of the process.
“The simulated calculator on the Sars website, which forms part of the Sars online query system, has been used 850,375 times. Sars has also received 102,839 queries through the voice channel, and 17,627 at branches. The USSD channel received a further 66,048.”
Kieswetter cautioned taxpayers to avoid any actions that could constitute criminality and emphasised the importance of using the correct identity and tax numbers when applying for this benefit.
“Sars encourages voluntary compliance and, in this regard, offers a range of communication options on the Sars website to achieve this objective.”
SowetanLIVE
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.