Trusts – should you have one?
Changing the rules on trusts To anyone involved in a trust, It is now no secret that SARS has identified trusts as a targeted source for extra tax revenue. This is based on the fact that they were used as tax havens for taxpayers as trustees or beneficiaries. As they have become to know this, […]
Accountant – friend or foe?
An Accountant does what? The burning question that gets asked frequently is this: “What do accountants actually do”? The answer can be as simple and as complex as the accountant wants it to be. I do not like answers to questions to be complex. This is because 9 times out of 10, it just confuses […]
Tax consultants – what do they do?
“Tax Practitioners” or “Tax Guys”: You will probably have a person who handles your tax affairs. This is fantastic but a warning – there are different types. Preparer: This is a person who is not qualified to give advice but is allowed to prepare tax returns on behalf of people. They cannot submit the return. […]
Nothing to fear
“There is nothing to fear but fear itself” Anon “Tax compliance ensures no fear of the tax man.” Bruce Laister (BC Accounting) I have come to realise that there are few things in life that can instantly cause panic in someone’s life. Apart from the obvious events like war, natural disasters etc, possibly one of […]
Tax Returns. Why pay and why get paid?
I don’t know many people that enjoy submitting their tax return. Having said that, I know many people who like the results of their labour. There are 3 types of results when it comes to tax returns. 1. You must pay a certain amount to SARS. 2. You receive an amount back in the form […]