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News & Press: Opinion

Nkandla tax

Friday, 16 November 2012   (0 Comments)
Posted by: SAIT Technical
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By Michael Stein (Friday Page)

As I read with discomfort about the latest of an endless series of service-delivery protests occurring somewhere in SA, my mind turned to the reportedly extravagant amounts being spent on our president’s private residence. This is quite apart from what might be spent on his three official residences around the country.

It made me wonder what his tax return looks like and how he reports the amount of well over R200million allegedly being spent on his home at Nkandla. Some of it might be for security, but the fact is that at the end of the day he will be left with an asset that is considerably enhanced in value. I assume thatsarswill ensure that he reports any taxable fringe benefit that arises. This might be some, albeit small, comfort for citizens who are desperately pleading almost every day for improved service delivery.



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.

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