NDA cautions public against over-reliance on anticipated SARS refunds
Debt experts warn consumers against taking short-term loans in anticipation of SARS tax refunds.
Black News 
With the 2026 tax season now underway and the South African Revenue Service (SARS) paying out billions of rand in early refunds, debt experts are warning consumers against risky financial behaviour.
National Debt Advisors (NDA) says financially distressed middle-to-high income earners are increasingly taking out short-term credit in anticipation of expected tax refunds that are not guaranteed.
The organisation warns that so-called “refund-anticipation borrowing” carries significant risks, particularly where factors such as withdrawals under the two-pot retirement system, outstanding penalties or SARS verification processes may reduce or delay final payouts.
NDA debt counsellor Samantha Moyana says consumers should not treat tax refunds as guaranteed income.
Moyana says, “A tax refund should never be treated as guaranteed future income because it’s not a salary or bonus. A refund is simply the result of a tax reconciliation process, and that outcome can change depending on a person’s final taxable income, deductions. So, the risk is that some consumers are borrowing, spending, or making payment promises based on an expected refund.
“So, from a debt counseling perspective, that is where the problem starts. Until the refund is in your account, it can still be delayed, reduced, adjusted, verified, or offset against money owed to SARS,” Moyana adds.
