How to practically offset an assessed loss
By Marc Sevitz · Updated
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
You would need to call 0800 00 7277 to have them adjust this and reissue the assessment.