The office of the newly appointed Tax Ombud, retired judge Bernard Ngoepe, aims to resolve disputes between taxpayers and SARS within 15 business days. It is envisaged that the Tax Ombud could offer a remedy for taxpayers to use in instances of failures in service delivery, and with regards to procedural and administrative issues, without the need to escalate to court at great cost and time delay.
The much-publicised court case between Internet security entrepreneur Mark Shuttleworth and the South African Reserve Bank sheds some light on the validity of emigration exit levies under the Exchange Control Regulations.
One of my former mentors, from days long before I contemplated entering the ministry, once said to us preachers-in-training: "Blessed are the short-winded, for they will be invited back!" I can't say that this month's articles comply with this directive, but I trust that we will indeed be "invited back" to your desk or PC next month!
There are few taxes that cause more confusion amongst lay persons than Capital Gains Tax. However, in its most basic form, it is conceptually not a difficult tax to understand. In this article, we lift the veil.