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LML4804 OCTOBER NOVEMBER PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 - DUE 25 October 2024; 100% TRUSTED Complete, trusted solutions and explanations. $2.69
LML4804 OCTOBER NOVEMBER PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 - DUE 25 October 2024; 100% TRUSTED Complete, trusted solutions and explanations.
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Course
Tax Law
Institution
University Of South Africa
Book
Income Tax in South Africa
LML4804 OCTOBER NOVEMBER PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 - DUE 25 October 2024; 100% TRUSTED Complete, trusted solutions and explanations.
LML4804 OCTOBER NOVEMBER PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 - DUE 25 October 2024
LML4804 OCTOBER NOVEMBER PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 - DUE 25 October 2024
LML4804 OCTOBER NOVEMBER PORTFOLIO (COMPLETE ANSWERS) Semester 2 2024 - DUE 25 October 2024; 100% TRUSTED Complete, trusted solutions and explanations Ensure your success with us...
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,LML4804 OCTOBER NOVEMBER PORTFOLIO (COMPLETE
ANSWERS) Semester 2 2024 - DUE 25 October 2024; 100% T
RUSTED Complete, t
QUESTION 1 (TAX ADMINISTRATION AND TAX
AVOIDANCE) The Tax Administration Act 28 of 2011 (TAA)
empowers the Commissioner for the South African Revenue
Service (the Commissioner) to conduct audits on taxpayers. The
Commissioner has, over the years, announced that the South
African Revenue Service (SARS) will conduct audits on all
taxpayers that enjoy a certain lifestyle. Most recently, the
Commissioner announced that taxpayers who buy certain
premium-brand goods would be subjected to audits. In doing so,
SARS is upholding its commitment to keep a close eye on the
so-called High-Net-Worth (HNW) taxpayers. A HNW taxpayer
is defined as a person whose estate is worth more than R50
million. Following the above statement, SARS announces in the
press that it will be conducting lifestyle questionnaires on all
wealthy taxpayers who are members of the Vintage Club. The
Vintage Club receives a notice from SARS demanding
information about the names and personal details of its
members. WHAT IS REQUIRED OF YOU: The club
approaches you for advice regarding SARS’ notice. Advise the
club in terms of the existing law. [15] SUB-TOTAL FOR
QUESTION 1 [15 marks]
Advice to the Vintage Club Regarding SARS’ Notice
When advising the Vintage Club on the notice received from the
South African Revenue Service (SARS) regarding the provision
, of names and personal details of its members, it is important to
consider the following legal principles and statutory provisions
under the Tax Administration Act 28 of 2011 (TAA).
1. Legality of the Notice:
o Under Section 46 of the TAA, the Commissioner has
the authority to issue notices for the purpose of
conducting audits and obtaining information relevant
to tax compliance. SARS must ensure that its requests
for information are reasonable and justifiable.
o The notice from SARS should specify the information
required and the purpose of the request. The club
should ensure that the notice complies with these
requirements.
2. Member Privacy and Confidentiality:
o The club should evaluate the implications of
disclosing its members' personal information. The
Protection of Personal Information Act (POPIA)
safeguards individuals' personal data. Before sharing
any personal details, the club must ensure compliance
with POPIA, which requires that personal information
is processed lawfully and transparently.
o The club may need to seek consent from its members
before disclosing their personal information to SARS.
3. Relevance of Information:
o The club should assess whether the requested
information is relevant to SARS's inquiry. The TAA
allows for information to be requested only if it is
pertinent to the tax affairs under investigation. If the
club believes that the information demanded is not
relevant, it can challenge the notice.
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