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When waiting for your inheritance to be paid out, you unfortunately have to live with the inescapable fact that deceased estates take time to wind up. But whilst some delays are inevitable, executors currently face a new one in the form of a “Groundhog Day” scenario with SARS. It relates to income tax payable by the estate and a (in theory at least) never-ending cycle of taxable earnings and accounts.
Let’s take a look at when, how and why this came about, at how it complicates and delays the finalisation of the estate, and at how the problem can be easily solved…
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The CPA is great for us as consumers, and we should all be aware of our very strong rights to quality, “fit for purpose” goods.
On the other hand, if you are anywhere in the supply chain you risk having to pay huge compensation claims for losses caused by any dangerous or defective products.
Who exactly is at risk? On what basis? For what losses? How can you protect yourself? Read on for the answers to these questions and more.
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You have probably heard of the independent inquiry the Minister of Finance has asked for into why SARS is missing its revenue targets.
It’s an important question for us all, with tax experts suggesting that just over one third of the shortfall (about R18 billion) is due to poor economic performance, with the balance explained by declining tax morality and administrative difficulties within SARS.
Here’s what you need to know…
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