From 1 March 2012, personal income taxpayers received a tax rebate for medical aid contributions. Previously, a capped deduction of permissible medical aid expenses was allowed from the taxpayer's monthly income.
Low growth (2012: 2.5%) and unemployment are grave concerns that Minister Gordhan recognises but believes we must not panic. He also recognizes that government must support business to ensure growth and job creation.
It goes without saying that no one wants to see their profits disappear unnecessarily into SARS' reserves. How often have you heard that grumble berating the idea that "we worked hard to get where we are, and now it all goes into government coffers!"
Readers were alerted during January 2011 regarding the proposals that the "search and seizure powers" of the South African Revenue Service (SARS) were to be extended following earlier findings of the Constitutional Court.