The debate about security expenses and whether individuals should be allowed some kind of tax credit when they incur these expenses, seems to flare up every now and again.Since the beginning of this year Solidarity, as well as the Freedom Front Plus, have been involved in campaigns pressuring government to allow some form of rebate for citizens who take measures to ensure their own safety.
But would such a rebate or deduction be in line with the Income Tax Act? And is it likely to succeed?
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.
MINIMUM REQUIREMENTS TO REGISTER
The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.