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Budget 2023: No wealth tax, but trustees beware
Despite speculations that Government has revived plans to introduce a wealth tax, SARS’ focus has instead shifted to compliance of wealthy taxpayers with complex financial structures as well as trusts. SARS has made their intentions clear by re-establishing the High Wealth Individual (HWI) Segment in 2021 to focus on the tax affairs of the wealthy, while strengthening its investigative capabilities. Read more here
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