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Scammers at work … from VAT fraud to fake invoices
Lieutenant General Godfrey Lebeya details the cases involving financial crimes investigated by the Hawks.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreLieutenant General Godfrey Lebeya details the cases involving financial crimes investigated by the Hawks.
Pay attention to the conditions that must be met to be exempt from filing a return.
Auto-assessment notices will be sent out from 1 July, SARS says.
The South African Law Reform Commission releases its final report containing recommendations on changes to the Maintenance Act.
The context to Treasury’s concern is where the arm’s length interest rate is lower than the official rate of interest.
One of the guides applies to the Income Tax Return for Trusts.
An amendment to the Income Tax Act makes it easier for Sars to collect taxes owed by tax non-resident beneficiaries of South African trusts.
Persons who are trustees in their personal capacity only are not accountable institutions.
It may not always be clear when someone has crossed the line into carrying on the business of creating a trust arrangement for a client.
The amendments encompass debt denominated in a foreign currency and the primary residence exclusion.
Trusts that have failed to comply with the rules are exposed to penalties and fines.
Pay attention to the conditions that must be met for an exemption.
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
The offences relate to not recording information about beneficial ownership and service providers that are accountable institutions.
Trustees will have to report directly to Sars, outside of the current trust tax return process, and before the trust tax return is due.
It also wants to address the inconsistent treatment of non-resident beneficiaries when capital gains are distributed.