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Will SARS find you guilty?
Tax Bulletin | 26 November, 2009 | Hot Topics:
Dear reader
I know you’re bracing yourself for the proposed changes to the tax legislation around travel allowances and logbooks. And no doubt, you’ve briefed your employees and colleagues about the importance of keeping up-to-date logbooks to prove their kilometres travelled.
Have you been following the rules?
But to really be free of the tax auditors, you must make sure you’ve been following the rules all along. SARS is going to be checking up on you!
Sars won't let you off the hook!
The proposed changes to the legislation will only take effect from around March 2010, but SARS isn’t going to let you off the hook if you’ve been using the travel allowance illegitimately up until then.
So if you’ve been beefing up your employee’s travel allowance figures, or claiming a travel allowance for an employee who doesn’t actually do any business travelling, you could face harsh penalties. After all, SARS is doing whatever it can to ramp up PAYE compliance, and avoid the tax income losses that it’s had to deal with this year.
I asked Matsika what us taxpayers could do to stay on top of this. Your best bet, he says, is to keep a logbook on your desk, and keep it up-to-date!
Until next time,
Fulvia Becatti
Managing Editor: Practical Tax Handbook & Practical Vat Handbook
Editors note
Fulvia Becatti
Tax Bulletin Editor
The Tax Bulletin is packed full of tax tips, commentary on changes to the tax landscape and is also an interactive tax forum which aims to help you efficiently manage your taxes and avoid all the traps. It is also a handy reminder of the deadlines which taxpayers have to meet.
