New Cheque Limit of R50 000 applies to most SARS taxes payable
- Jun
- 09
- 2014
SARS introduced new payment rules with effect from 30 May 2014 – SARS branch offices will no longer be accepting cheques exceeding R50 000.
“Splitting” of payments (ie 2 or more simultaneous cheque payments totalling more than R50 000) will also not be allowed.
Should payments larger than R50 000 need to be made to SARS, the following payment methods must be used:
- Actual deposit of the cheques at any of the banks (ABSA, Citibank, FNB, Investec, Nedbank and Standard bank) – Limited to R500 000, or
- Electronic Funds Transfer (EFT) using Internet banking, or
- SARS e-filing payments via “Credit Push” options – Credit Push refers to a payment transaction initiated on e-filing and presented to the internet banking product for final release by the respective authorised users in the banking systems
SARS no longer accepts cash deposits at any branch office.
Kindly note to include a unique Payment Reference Number (PRN) with each payment (on the back of each cheque) to ensure correct allocation on SARS account system.
Please contact our offices for any assistance in this regard on 021 683 4834.
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