Knowing your tax compliance status
South Africa - Garlicke & Bousfield Inc
There are many reasons why a taxpayer may want to know their tax compliance status. A taxpayer may, for example, require a Tax Clearance Certificate (TCC) for a tender or an emigration application. An application for a TCC may be made at a SARS branch or via e-filling. Generally, SARS must issue or decline to issue a TCC within 21 business days from the date on which the application is submitted.
SARS may confirm that the taxpayer is tax compliant by issuing a TCC only if satisfied that the taxpayer is registered for tax and does not have any outstanding tax debts or returns. Tax debts that are subject to instalment payment arrangements, compromise agreements, or where payment of the tax debt has been suspended pending an objection or appeal are excluded. SARS may confirm the taxpayer’s tax compliance status as at the date of the request, or a previous date as prescribed by the minister in a regulation. The TCC must be in the prescribed form and include the original date of issue of the status confirmation, the taxpayer’s name, reference number and identity or registration number, and the date of the confirmation of the tax compliance status.
Knowing your tax compliance status
Downside of student lets
South Africa - Property360
Investing in student accommodation means you won’t struggle for tenants, but there are risks
Investing in student accommodation is a potentially lucrative option in South Africa, but the risks must be considered. While student accommodation does offer investors a low-risk option in terms of the possibility of prolonged vacancies, Adrian Goslett, regional director and chief executive Re/Max of Southern Africa, says this type of rental income does pose other risks. These include short-notice lease terminations and the possibility for neglect and damage.
However, Grant Gavin, broker/owner of Re/Max Panache, says investing in student accommodation is a smart choice with the correct safeguards to protect the investment value of the property.
Property360
Price Transparency, Consumerist Behaviour And Declining Quality
UK - TodaysConveyancer
The price transparency rules, that came into effect in December last year, have been contentious since they were first suggested by the Competition and Markets Authority (CMA) in 2016.
A new Bellwether Report 2019 discussion paper, The Changing Face of Law, by LexisNexis, has highlighted the growing chasm of differing opinions concerning the impact price transparency is having on compliant firms.
Of the 200 law firms questioned in the report, 58% of solicitors and 69% of those running law firms believe that the changing nature of consumerism is impacting their ability to complete the legal service. 31% of the respondents viewed price transparency changes as compromising their role as a legal expert with an additional 40% believing changes have caused an occasional impact on their role.
TodaysConveyancer
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