New SARS scam – beware!

Dear fellow taxpayer

We’ve come across a new scam that you need to be very wary of.

The scam is in the form of an email supposedly sent by SARS. The email states that you have a refund due from SARS, but to receive it you need to provide your banking details. Don’t fall for it!

The first tell-tale sign that the email isn’t genuine is that it’s addressed to undisclosed recipients. Nowhere does the email address the recipient by name or tax number. However, other than these anomalies, the email looks very genuine indeed – there’s a full SARS header and a link that takes you the SARS website.

There is a link that takes you to a genuine-looking SARS eFiling page which asks for your banking and credit card details. Don’t provide this information as it will be used fraudulently!

The essence of this warning is “don’t be caught off guard”. In all aspects of business, you have to remain astute and ensure you never drop the ball…otherwise you will suffer the consequences.

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Mailbox
Answered by Matsika Vengesa of Tax Consulting SA

How long after construction is complete should I keep my invoices?

Dear Matsika,

What happens if you sell your house or property after five years following completion of construction? Will SARS request to see the invoices of what you paid to the construction company or what you bought from the hardware outlets etc?

Answer:

There is a very real possibility that it may ask for these invoices. As a matter of practice SARS recommends that you keep all documentation that may affect a tax audit or enquiry for at least five years. If you don’t have these invoices anymore, ask the contractors if they have copies.
 
Until next week.
 
Regards
 
Nothando Hlatshwayo

Managing Editor
The Practical Tax Handbook