SARS has issued a notice indicating that the value of "B" in the prescribed formula when calculating the taxable benefit in respect of a residential accommodation fringe benefit has increased from R59 750 to R 63 556 effective 1 March 2012 (paragraph 9(3) of the Fourth Schedule).
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.