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Evergreen Lifestyles on retirement villages

SARS working hard to swing perception and collect taxes

The media recently reported that the October 2017 Medium Term Budget Policy Statement (MTBPS) could hold nasty surprises for taxpayers on tax collection shortfalls. There have also been rumours of state capture spreading into more parts of government. As a result, one should consider SARS’ accountability, writes Ferdie Schneider, National Head of Tax, BDO South Africa. (more…)

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Paul Leonard

Paying the taxman

By Paul Leonard CFP®, Regional Head: E Cape, Citadel. Tax season – the period during which you are required to submit your annual income tax return – started on 1 July and is now in full swing so I thought it would be interesting to look at how long we work for the taxman in […]

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Ruaan Van Eeden

SARS: Last opportunity for clients to disclose their offshore assets

The current Special Voluntary Disclosure Programme (SVDP) for the disclosure of information about assets held offshore, which ends on 31 August 2017, is more significant than previous disclosure initiatives, and financial advisors should encourage their clients with offshore assets to participate. (more…)

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budgettaxsq

TAX: Understatement penalties: what is a bona fide inadvertent error?

by Robyn Armstrong, Werksmans Attorneys. The Tax Administration Act No 28 of 2011 introduced the understatement penalty regime with effect from 1 October 2012. (more…)

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taxcgtsmall

Draft tax amendment bills published for public comment

National Treasury and SARS published the 2017 Draft Taxation Laws Amendment Bill (TLAB) and the 2017 Draft Tax Administration Laws Amendment Bill (TALAB) earlier this week. The 2017 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Rates Bill) was published on Budget Day. This suite of draft bills should give effect to […]

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taxsmall

Top Signs of an Unreliable Tax Return Preparer

In these troubled economic times, some are seeking to earn extra earnings as tax return preparers despite their lack of training and experience, says the SA Institute of Tax Professionals. Others are seeking to use their so-called expertise to defraud SARS and / or you as the client. (more…)

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budgettaxsq

Tax transgressions and pitfalls

SARS is committed to stamping out tax crime in South Africa, according to Ilsa Groenewald, Associate Director for tax at the Durban office of BDO South Africa, the audit, advisory and tax firm. Here, she reviews tax morality, common transgressions, and pitfalls. (more…)

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Tax Season 2017 Now Open

Tax Season 2017 officially opened on Saturday, 1 July 2017 for eFilers, and today for branch filers. Taxpayers can now commence completing and submitting their 2017 personal income tax returns for the 2016/17 tax year. (more…)

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