The deadline for non-provisional taxpayers to file their tax return is just around the corner. Taxpayers have until 4 December to submit their return and avoid unwanted penalties and interest. SARS recently announced that it will be clamping down on taxpayers who miss the deadline to submit their tax return. “Should the extended electronic filing period […]
In the December issue of MoneyMarketing, Jonti Osher and Dino Zuccollo, Section 12 fund managers of Westbrooke Alternative Asset Management give an overview of the current Section 12J market. Section 12J was introduced by the South African Revenue Services under Section 12J of the Income Tax Act in 2009 as an investment tax incentive. The […]
In these times of rapidly diminishing action against wrongdoers, it is refreshing to read the Tax Ombud’s findings after an investigation into “…alleged delayed payment of refunds as a systemic and emerging issue.” Taxpayers have over the years been complaining that SARS unduly delays the payment of verified refunds. The complaints reached their peak in […]
This Elton John song came to mind when I read two publications on retirement planning last week: “Who’ll walk me down to church when I’m 60 years of age/When the ragged dog they gave has been ten years in the grave…” The results of Sanlam’s authoritative Retirement Benchmark Survey showed a lot of similarities to […]
We came across this article in the June edition of the Logista newsletter. The 2011 Tax Administration Act indicated that SARS would be looking to third parties, such as banks, medical aids etc, for information to verify your tax submissions. Now they have gazetted what they actually require from these third parties. These third parties […]
When I lived on the West Coast, the first day of the crayfish season was a joyous occasion. Somehow, I do not share the same elation when I read about the opening of the Tax season. It must have something to do with this neologism I came across: Intaxication: Euphoria at getting a tax refund, […]
We received some very emotional correspondence on this issue. The crux of the matter appears to be the wide application by SARS to what it terms a “Personal Service Provider”. The request from Astute explains it as follows: ‘Personal Service Providers’ are specific types of employees in the Income Tax Act no. 58 of 1962 […]
