SARS generally issues warnings about scams as tax season kicks into gear and this year is no different.
Social media is full of South Africans wondering (pleading) where their refunds are, having been quick of out the blocks come July 1.
Deciding to emigrate isn’t as simple as selling your house and booking a flight abroad, of course, and that’s especially true when it comes to dealing with SARS.
If you live in South Africa and your social media feeds show luxury assets, you better hope you have the payslips to justify that high life.
Estimates on the cost of permanently increasing the Basic Income Grant vary wildly, with one study ranging between R160 billion and R520 billion annually.
Let me first ease your blood pressure by saying that January 31 is the deadline for provisional taxpayers, including trusts and companies.
According to one recent estimate, as many as 85% of working from home tax deduction claims submitted by individual taxpayers are being rejected by SARS.
The change would have a serious impact on those whose retirement plans involve moving abroad, so it’s being closely monitored.
In May, SARS announced it was forming an HWI unit, aimed at improving compliance amongst the country’s wealthiest citizens.
Fail to pay your taxes, and SARS will come knocking, with a number of new initiatives targeting everyone from businesses through to wealthy South Africans.
The National Treasury has now proposed a further tax on South Africans who intend to emigrate permanently.
Tax season is officially upon us, and in order to simplify and speed up the process, SARS will be actioning auto assessments. Before accepting, there are a few things to consider.
Three of South Africa’s largest cryptocurrency exchanges have been approached by SARS, which is looking into South Africans involved in “the mining, speculation and/or investment in crypto assets”.
SARS is being rather proactive this year, with the first batch of ‘welcome letters’ to high wealth individual taxpayers already sent out.
Tax season – if those two words send shivers down your spine, you’re not alone. Here are the most important dates to jot down so you don’t miss a deadline.
SARS issued a statement this week pointing out a high degree of non-compliance in the short-term rental sector, with Airbnb income clearly under scrutiny.
If you’re going to be dodgy and flaunt your wealth, don’t post your activities to your public social media account in the middle of an economic crisis.
The government’s announcement that it was killing Section 12J tax breaks has been met with much pushback. Thankfully, there’s still one more chance to max out your refund before it ends.
A helping hand from the taxman doesn’t come around all that often, so here’s something you may want to consider before the tax year ends on Sunday.
The financial year ends on February 28, so the window of opportunity to maximise your tax return for the year is rapidly closing.
Simple mistakes that might previously have earned taxpayers a slap on the wrist could now see you spending up to two years in jail.
SARS is being inundated with desperate calls from taxpayers who have fallen victim to scammers promising to secure large tax refunds.
South African banks, and SARS, have declared that the cheque book could soon be a thing of the past.
There’s a fine line between tax avoidance and tax evasion, and if you’re on the wrong side of it, SARS could be coming for you.
Nobody likes receiving the news that they’re under audit from SARS, but there’s no need to panic just yet.
Submitting a tax return to SARS is always a rather nervy affair, and now a proposed amendment to the law has practitioners worried about the implications.
If SARS issues you with an auto-assessment, usually done via SMS, you should first check that a few things are in order before accepting.
SARS has made some changes, and it’s safe to say that tax season will look a little different this year.
On May 5, SARS announced new tax filing seasons and a much more heavy-handed approach to those who don’t comply.
What happens if your tax submissions are filed late as a result of COVID-19, and you incur interest and penalties?