Drive around Clifton, Camps Bay, Bishop’s Court, Bryanston and Sandton and count how many houses there are that have to have that level of income for the upkeep.
After recovering from the shock of the introductory words of the notice, SARS extends an olive branch and states that it wishes to engage with the taxpayer first, in the interests of administrative justice.
While many banks struggled with providing dedicated relationship managers to SMEs, other banks quickly adapted by developing “how-to” guides for their relationship managers to navigate client relations during the pandemic.
And there is the informal sector, which means everyone who does business illegally and illegitimately, not paying taxes, or anything else either, from NHIF to NSSF contributions and onwards.
Generally, the administration costs pertaining to foreign trusts are substantially higher than those of South African trusts, which has discouraged people from using these structures.
The government will, however, continue to cushion low-income earners by retaining 100 percent tax exemption/relief for those earning monthly incomes of Ksh24,000 ($240) and below.
KBA Housing Index, for instance, showed demand for apartments shrank 63 percent in an overall subdued price trend.