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Thomas R

1 reviews | Active since Mar 2009

03 Feb 2023, 08:14

ABSA Stockbrokers finding it impossible to resolve a simple matter!

On 12 January I transferred the yearly limit into my ABSA Stockbrokers tax free savings account. I realized that I made a mistake because the tax year is not from 1 January but from 1 March. This means that I would exceed the yearly limit and would be taxed 40% by SARS. On 13 January I emailed ABSA Stockbrokers and asked them to please reverse the transaction. They did reverse the transaction but my account STILL shows that I have exceeded the annual limit which means this will be reported as such to SARS. Since then ABSA made numerous promises to correct the problem but the issue remains. The held desk agent even escalated the matter to their management but still there is no resolution. So ABSA how much longer must I still wait for you to resolve this VERY SIMPLE matter?

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