Testamentary trusts still have their place
How you can protect your assets from predators including SARS Trusts have received a lot of bad press over the past few years, what with SARS taking a dim view of the use of trusts as a means of avoiding tax. A 2008 case involving a property trust, where the beneficiaries were changed in the […]
Flying towards a tax saving: Double tax agreement, or financial emigration?
Having visited over 12 international locations in 2022, and engaging with South African expatriates, we can attest to a recent report issued by the United Nations, which found that around 900 000 South Africans are already living and working overseas – and indeed, this may well be an understatement. The common misconception amongst expatriates, however, […]
Tyd vir indien van trust belastingopgawes
Die Suid-Afrikaanse Inkomstediens (SARS) het met wysigings sy vermoëns verbeter om die inligting oor trusts, hul voordelige eienaars, “diegene wat finansieel kan baat”, (ultimate beneficial owners) en verdelings wat gemaak en verklaar word aan begunstigdes, na te gaan en te kruisverwys. SARS het onlangs belasting praktisyns en trustees in kennis gestel van veranderinge aan die […]
Sars verander BTW-registrasiereëls na styging in verdagte aktiwiteit
Die Suid-Afrikaanse Inkomstediens (SAID) het onlangs gesê hy stel strenger voorwaardes op diegene wat as BTW-ondernemers wil registreer nadat dit ‘n kommerwekkende tendens in verdagte aktiwiteite opgemerk het. Die SAID het onlangs’n beduidende styging gesien wat vereis dat hy ‘n dringende hersiening van sy registrasieproses moet doen en glo groot getalle registrasies word gedoen met […]
Render unto Caesar: Shares and the SARS slice
Whether you are a share trader or a long-term investor, when you make a profit, SARS will want its slice of the pie Ever since biblical times, there has been a tug-of-war between governments trying to extract as much as possible from their citizens in the form of taxes, and individuals trying to keep as […]
Beskerm jouself teen Kuberaanvallers
Kuberaanvallers word slimmer en probeer nuwe kwaadwillige maniere om jou inligting en geld te teiken. Ons het reeds vroeg in die jaar vals “phishing” eposse ontvang wat lyk of dit van verskaffers, SARS en banke af kom. Die 5 wenke hieronder kan help as ‘n voorsorgmaatreël om jou veilig te hou: Gebruik sterk wagwoorde en […]
VAT treatment of irrecoverable debts
What happens to the VAT that was paid over to SARS? Vendors often provide goods or services to clients on credit. In the current economic climate, clients are more likely to acquire goods or services on credit and may thereafter be unable to settle these debts. Other factors, for example disputes, may also result in […]
Vervanging van IT14SD-opgawe – Nuwe SARS-verifikasie proses
SARS het onlangs die gebruik van die IT14SD-opgawe gestaak. Hierdie opgawe is voorheen deur SARS gebruik vir verifikasie (wat ‘n hoëvlak verifiëring van die belastingbetaler se inkomstebelastingopgawe is). Die IT14SD-opgawe het vereis dat die belastingbetaler ‘n rekonsiliasie doen tussen BTW, EMP en inkomstebelasting. Die SAID het nou begin om ‘n reeks nuwe verifikasie briewe aan […]
Tax compliance lives beyond death
A deceased estate takes on a (tax) life of its own while being wound up I started my first job back in September 1987 at the tender age of 18, and approximately nine months later I received my very first income tax return from the Receiver of Revenue (as SARS was known in those days), […]
When SARS requests supporting documents
E-filing doesn’t allow ‘secured’ or password-protected documents to be uploaded—but there is a solution Following SARS Commissioner Edward Kieswetter’s announcement that he intends to rebuild SARS’ enforcement capabilities as part of his quest to become the scourge of recalcitrant taxpayers, there has been a noticeable increase in requests from SARS for the submission of supporting […]