- Four steps SARS has to take before removing money out of your bank account
- The money in your company's bank account isn't totally under your control! SARS can demand you pay someone else's taxes. With the Tax Admin Act telling taxpayers that ignorance is no excuse, make sure you know your rights and how to prevent SARS from taking money out of your bank account.
For SARS to recover any tax debt, you have to receive an assessment. And the assessment should be correct.... ››› more
- [24 March 2017]
- If you're considering lodging an objection against your SARS assessment, here are the new rules you need to know about
- While the new objection rules generally follow the same format as the previous rules, the appeal and the alternative dispute resolution process, and the further processes to approach the tax board or tax court, the new rules do contain 1 or 2 innovative changes.
Let's look at some of these changes, and how they might affect you, if you want to object to an assessment, or decision the SARS Comm... ››› more
- [16 February 2017]
- How one fatal mistake by SARS saved AB Pty Ltd R32 million
- If you under-declare your income, SARS will hit you with a laundry list of penalties, fines and interest. AB Pty Ltd got first-hand experience of this when SARS raised R69 million in penalties and interest!
But, there was something SARS didn't do which made part of the penalty fall away.
Let's look at this case and how AB Pty Ltd got away with some of the penalties SARS imposed. ************... ››› more
- [31 January 2017]
- The eight instances you can lodge an objection with SARS and win!
- Here's a true story with a happy ending:
I had coffee with Peter Franck, Contributor of the Practical VAT Handbook, and he told me an interesting story about one of his clients, Mr Hogenboezem*. He received a VAT assessment for R86 000 from SARS. SARS issued him with this assessment because he mistakenly claimed input tax twice on a bakkie and the invoices he received for purchases were techni... ››› more
- [11 January 2017]
- How to make sure you don't end up with an unfair tax assessment from SARS
- Do you believe that the quickest way to get SARS off your back is to pay up on the assessment? And then heave a sigh of relief, because 'it's over'?
Pay now, argue later, right?
You don't have to pay up immediately on assessment. And you certainly don't have to accept the tax assessment SARS gives you.
Here's what you can do about it... **********
How to make yourself i... ››› more
- [29 November 2016]
- Can SARS validly deliver an assessment to you via eFiling?
- If you're like me, you probably think the answer to the question is 'yes'. Probably because you've received a SARS assessment in this way before.
But have you ever just happened to find out by chance, that SARS issued an assessment to you via eFiling? And by the time you see it, you're passed the 30 day period to object.
Well, I have good news for you. Just recently, as I was talking to Ala... ››› more
- [27 October 2016]
- Three questions you must ask yourself when lodging an objection to SARS
- Has SARS given you an assessment you disagree with? For example, have they:
· Denied you a refund;
· Disallowed a deduction;
· Not waived an administrative penalty, a non-compliance penalty or an understatement penalty; or
· Gotten a figure wrong on your return?
If this is you, then don't just sit around and do nothing! Far too many employers mak... ››› more
- [19 May 2016]
- Your step-by-step guide to lodging an objection to a SARS assessment
- If SARS has raised an assessment which you're not happy with, you are by no means helpless!
Many employers just let SARS have its way when they issue them an outrageous assessment, which means that they'll end up paying money to SARS which they shouldn't actually be getting. So you end up losing money you shouldn't have in the first!
So take action and stand up to SARS!
That's right! Acco... ››› more
- [18 May 2016]
- Are you applying for a payment suspension? Then use these 5 statements to ensure SARS grants it
- Are you intending to appeal or object a SARS assessment?
If so, then you can, under the Tax Administration Act, apply to SARS, in writing, for a payment suspension. In other words, to postpone the payment of the assessed taxes until the objection, or appeal, has been finalised.
Now, it's worth noting that the decision to grant this postponement is up to SARS, and they may require some convin... ››› more
- [25 April 2016]
- Kumba Iron Ore is objecting to a massive SARS assessment. Here's how you can
- As was recently reported, Kumba Iron Ore, of which the majority is owned by Anglo American, will be appealing a ruling by SARS stating that it owes them R5.5 billion (almos an entire quarter of its market value), of which R3.7 billion is interest and penalties.
In a statement, the company made it clear that they had co-operated fully with SARS during its audit, but that they disagreed with its ... ››› more
- [02 March 2016]