Tax Bulletin Archive September 2009

Vat deregistration emergency!

SARS gave notice last week that it will stop all refunds to vendors who are dormant, non-compliant, who have failed to submit Vat 201 returns for a prolonged period or whose Vat 201 returns for the last 12 months reflect no output tax! SARS will suspend or cancel your Vat registration where it believes that you arenít complying with the requirements of the Vat Act (Section 23(3) and 24(5), Vat Act).

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Forced to close shop? At least you can claim the Vat back!

In today's tough times, financial woes force many small businesses to close their doors. Even in such dire events, you face Vat implications for cancelling the lease of your premises?

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12 expenses you MUST deduct this 2009 filing season

For the last few years, employees haven’t been able to make very many tax deductions. Make sure you get the relief you’re entitled to by following our simple guidelines below...

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Estate duty to change!

I think it’s safe to say spring is here. I for one am looking forward to mothballing my winter suits for another nine months. The weather isn’t the only thing to change... Estate duty to change! Among the numerous changes in the 2009 Taxation Laws Amendment Act which should become law in the New Year, there’s a proposal to amend Section 4A of the Estate Duty Act to allow the R3.5 million deduction to roll over between spousal estates.

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