The Financial Coach

MANAGING PEOPLE AND THEIR EMOTIONS AROUND MONEY

It’s time that treasury stopped being short-sighted when it comes to the wealthy!

A few years ago, during the National Budget Speech, government put a cap of R350k pa on retirement contributions. It appears that no one at treasury has given this much thought

More SARS flu

Not content with being lambasted by the tax ombudsman’s office, SARS now seem to be making up their own rules as they go along.

“Internet explorer is the safest browser” SARS*

You know that SARS is really in a mess when they still insist that Internet Explorer is the “safest” browser. It is also the only browser in which their efiling application functions correctly. How is this possible in 2017?

Official logo of the South African Revenue Services (SARS)

SARS still employing delaying tactics

The tax ombudsman recently made damning findings about SARS unreasonably delaying paying refunds. SARS, of course, denied that there is anything malicious in this. However, experience seems to show that they are still very much applying stalling tactics in their desperate search for funds. 

Not treating customers fairly – SARS!

Something seriously dodgy is happening at SARS – just had the 3rd case of them rejecting an RA tax certificate as proof of contribution to an RA. They are insisting on proof of contributions (since inception). Shouldn’t be too difficult to obtain but so much additional work – and on what legal grounds? Worse still …

UT or share portfolio

There are many with strong opinions about the merits of a share portfolio versus a unit trust portfolio. Here’s another one (strong opinion) in favour of a unit trust portfolio.

SARS – touching lives negatively

Just received a revised assessment from SARS for a client for the 2014 tax year, disallowing her retirement annuity contribution and thus resulting in a revised assessment and penalties!!!

Bad design – come on SARS

At first I thought that maybe it was only me and that the settings on my computer must be faulty – turns out it’s not me. It’s everyone who uses efiling…