VAT’s going on with rounding differences?

VAT’s going on with rounding differences?

SARS provides a solution for a problem that really shouldn’t exist In South Africa, the 1 cent, 2 cent, and 5 cent coins are no longer minted – but many retailers still follow the time-honoured practice of setting their prices to end in 99 cents.  When cash is...
Does theft have a tax consequence?

Does theft have a tax consequence?

It depends on whether you’re the thief or the victim RAISING INCOME by an organ of state for public use was once famously described as “legalised theft” by French economist Frédéric Bastiat. Given that paying one’s taxes is an activity that is enforced by legislation,...
The ‘Big Three’ tax worries (Part 3: Property)

The ‘Big Three’ tax worries (Part 3: Property)

Rounding up our series on the three main worries for taxpayers, we discuss property So you now know how to claim your car expenses on your tax return, and are reasonably confident that you can now manage your share investments without incurring the wrath of SARS. But...
SARS lifestyle audits

SARS lifestyle audits

When it comes to tracking down tax-dodgers, SARS has the tools, the people, and the will TAX EVASION and illicit financial flows are two areas that have long undermined economic growth in South Africa, and public trust in governance.  To counter these challenges, SARS...
The ‘Big Three’ tax worries (Part 2: Shares)

The ‘Big Three’ tax worries (Part 2: Shares)

AUTHOR: STEVEN JONES In the second part of this series, we focus on shares IF CLAIMING against our car allowances is the Number One thing that keeps us awake at night as taxpayers , then the fear of SARS lying in wait to lay their grubby paws on the slightest gain...