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reclaiming incorrectly deducted tax on savings account

hi

A relative closed a savings account recently, only to discover later that income tax had been deducted from the interest when it should not have been.

The bank won't refund the interest as they say the account is now closed and they have no record of R85 tax exemption form which had been submitted previously. A certificate of deduction of tax has been received.

The local Inland Revenue office say they cannot offer a refund. My relative has not worked in over 15 months.

Is there a way forward to resolve this? Are we overlooking something obvious?

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Reply to
Bill L.
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Reply to
Andy Pandy

If a refund is due, it will be made by the IR. I assume that the interest was credited on this current tax year? If so, this would normally be done after 5 April 2005.

However, he/she should be able to obtain an in year repayment, by contact his/her Tax Office.

Reply to
Doug Ramage

Thanks all for the replies.

After looking at the Inland Revenue website, looks like my relative needs to submit an R40 form.

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Reply to
Bill L.

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