FAQ: What constitutes a “security” for the purpose of Securities Transfer Tax?
– Share or depository receipt in a company; or – Member’s interest in a close corporation. Note: The inclusion of “any right or entitlement to receive any distribution from a company or close corporation” was deleted from the definition of a “security” with effect from 1 April 2012
FAQ: What is Securities Transfer Tax?
It is a tax levied on every transfer of a security. Only the following securities are taxable: – within the borders of the Republic; and – outside the Republic, should that security be listed on an exchange.
FAQ: Is there a remuneration structured?
The CA training programme has a well-structured salary table which rewards trainees that are successful in meeting their academic and SAICA article requirements.
FAQ: What happens if trainees leave the programme before completing their three-year contract?
Trainees leaving within the three-year period will be responsible for the repayment of all study related costs borne by SARS during the course of their training as determined by the training office and programme manager and approved by a steering committee. These costs may differ as trainees are on different rotations as per their courses […]
FAQ: How long is the training programme?
The training is offered over three years on a full time basis at SARS.
FAQ: Can I make instalment payment arrangements to settle an outstanding penalty amount?
Yes, an instalment payment arrangement agreement can be entered into for a full outstanding tax debt. This would be subject to certain qualifying criteria (e.g. no outstanding returns)
FAQ: Will my RFR be considered if I have not remedied the non-compliance for which the Administrative Penalty was raised?
In order for a RFR to be allowed, the relevant non-compliance must have been remedied at the time that the RFR is considered, except in the following instances: The taxpayer is not liable to file an income tax return; a SARS error; or death.
FAQ: What if my RFR was not allowed?
The taxpayer may object to the outcome of the RFR if he / she does not agree with it. The objection must be lodged on the prescribed Notice of Objection form (NOO).”
FAQ: When will a Third Party Appointment be initiated?
Although SARS may use this collection power as soon as the tax debtor is in default, in practice the defaulting debtor (taxpayer) will normally receive notices and be afforded the opportunity to pay the tax debt before third parties are appointed. This will not, however, apply in instances where there are indications that the taxpayer […]
FAQ: What is an ITA88 Third Party Appointment?
If a taxpayer has an outstanding administrative penalty and does not respond to any notices or demands in respect of the outstanding penalty, SARS may under Section 179(1) of the Tax Administration Act, No.28 of 2011 , appoint any third party, including an employer where the taxpayer is an employee, who holds money on behalf […]
