Sars commissioner, Edward Kieswetter says there are currently 829 active criminal investigations involving individual taxpayers, of which 178 have been handed over to the National Prosecuting Authority (NPA). “94 cases have been finalised with 92 convicted with prison sentences issued,” he told journalists at a press briefing earlier today. Sars is also fighting a “proliferation of syndicates in various schemes”, with 413 active investigations. 

Finance minister, Enoch Godongwana says the country is reaping the benefits of a more efficient and effective tax administration, that is building trust to increase voluntary compliance and boost revenue collections. However, in light of the various economic pressures that consumers are currently facing, National Treasury is offering up R13-billion in tax relief this year. This translates to R15.7-billion in tax relief. 

(Source: Budget 2023)

Medical tax credits increase to R364 per month for the first two members, and to R246 per month for additional members.

Anyone brave enough to enter the property market during an increasing interest rate cycle will be relieved by the increase in the threshold for property transfer duty — you will not have to pay transfer duty on any properties sold for R1.1-million or less. BM/DM