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Taxpayers with outstanding returns summoned to face criminal charges

The National Prosecuting Authority (NPA) is issuing summonses to taxpayers with outstanding tax returns. Sars commissioner Edward Kieswetter has promised that they will make life difficult for non-compliant taxpayers, a promise he has kept. Those who decided to ignore his words of caution may soon be summoned to appear in court on criminal charges, even…

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SARS Will Audit Your Home Office Deductions

During the webinar, the SARS Commissioner, Edward Kieswetter, advised taxpayers to think carefully before claiming their home office expenses and cautioned against having a “catch-me-if-you-can” attitude. Non-compliers will be detected and will not qualify for the deduction Since working from home has become far more prevalent, SARS anticipated an influx of these claims and confirmed…

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The cost of dying and when you have to pay it

Although most people realise that there are costs when someone passes away, they don’t necessarily understand what these costs are, when and how they need to be paid, and how much they will amount to. Sarah Love, a fiduciary practitioner at Private Client Trust, a division of Private Client Holdings, unpacks and explains these costs….

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Hosting A Paying Guest Is More Taxing Than You Thought – SARS

SARS recently warned owners of South African properties who host fee-paying guests that “the rental income they receive must be declared in their income tax return”. While Airbnb, for example, is very well regulated and requires tax-related declarations annually before any payments are made to the hosts, the informal sector is, of course, unregulated. Some…

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South Africa stepping closer to a tax revolt: think tank

The Institute of Race Relations (IRR) has warned that South Africa’s tax base is nearing a tipping point as the government increasingly looks for new ways to collect revenue. In a memorandum sent to president Cyril Ramaphosa earlier this month, the IRR said that the government’s increased revenue pressure on taxpayers was a form of ‘citizen abuse’…

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How to pay less tax in 2021, legally

While a retirement annuity isn’t a silver bullet, its benefits are clear. Almost every South African will pay some form of tax in their lifetime. Putting petrol in your car to get to work? Almost 70c of every rand spent on fuel goes towards taxes and levies. Paying for a cup of coffee? Fifteen percent…

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SARS warns about fraudsters promising refund

PRETORIA – The South African Revenue Service on Monday warned taxpayers to be wary of people posing as tax practitioners or experts and promising to help them secure refunds from the agency. “Businesses and other organisations must also beware of third parties such as unknown payroll companies who offer to assist them with their PAYE…

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