In this issue…
VAT Refund Delayed? Track It With The New VAT Dashboard!
Taxpayers have experienced frustration in recent times waiting for VAT refunds. As most small businesses are always strapped for cash flow, the delays in refunds have been a considerable source of worry. How does the tracking system work?
Beware The Tax Assessment Masquerading As A Letter!
A formal tax assessment comes in the form of an IT 34 which assesses how much you owe SARS (or if you’re lucky how much SARS owes you). A case recently decided by the Supreme Court of Appeal found that a letter from SARS was deemed to be an assessment.
Medical Aid Deductions Versus The New Tax Credits – Will You Pay More Tax, Or Less?
The Tax Laws Amendment Bill (due to be promulgated shortly) will change the way medical expenses are allowable for income tax purposes. The amendments will take effect from 1 March 2012. How will the new system work?
Finance 101: Planning For Retirement
Over the past few decades there has been a significant shift in retirement funding. The onus has shifted from employers to employees. People no longer spend a lifetime at one employer, technology makes information far more available and accessible and retirement fund providers now focus on individuals as much as they focus on corporates. How can you make a plan?
Read more: CA[SA].News – January 2012
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Let’s hope the VAT dashboard doesn’t have any “bugs” in it as it definitely sounds promising. Hopefully no more being on hold for 3 hours to get to talk to someone @ SARS.