#WATCH I It is anticipated that individuals submitting 2022 ITR12 tax returns will face increased verification queries from SARS. In order to avoid an unnecessary verification and an audit from SARS, tax practitioners must be diligent and ensure that taxpayers fully comply with the relevant tax law referred to in the tax return, and appreciate what documentary evidence is required to discharge the burden of proof placed on the taxpayer to substantiate information disclosed in the ITR12 tax return. In this session, Diane will focus on the legal and practical understanding of the contents of the ITR12 return, what the various questions mean, and why SARS is asking them.

Current SARS Focus Areas

Overview

It is anticipated that individuals submitting 2022 ITR12 tax returns will face increased verification queries from SARS. In order to avoid an unnecessary verification and audit from SARS, tax practitioners must be diligent and ensure that taxpayers fully comply with the relevant tax law referred to in the tax return, and appreciate what documentary evidence is required to discharge the burden of proof placed on the taxpayer to substantiate information disclosed in the ITR12 tax return.

In this session, we will not deal with the filing of the return, but rather focus on the legal and practical understanding of the contents of the ITR12 return, what the various questions mean, and why SARS is asking them.

Course content

Please join us as we consider, inter alia, the following issues:

• Home office expenses
  • Different rules for employees, independent contractors and commission earners
  • SARS verification questions and proof required
  • Expenses that can be claimed
• Loans to trusts
  • New rules
  • New rates
• Trust distributions
  • Expenses set off against beneficiary distributions
  • Disclosure in tax return and correlating trust documentation
• New cessation of residence declaration form
  • Disclosure in tax return and payment of provisional tax
• Correct disclosure of foreign dividends and foreign interest
• Conversion rates for foreign income and expenses
• Foreign trade losses
• Meeting the “days” rule for foreign employment exemption
• Disclosure of foreign donations and the SARB
• Crypto assets:
  • Are you trading or investing and disclosure required
  • Documentary proof
  • Filling in statement of assets and liabilities
• Foreign trade income and losses

Competencies developed in this CPD:

After this session, you will be:

• Updated with the current law and SARS practice impacting taxpayers during the 2022 filing season.
• Competent to advise clients on the compliance and documentary evidence requirements applicable to the 2022 filing season.
• Able to complete the new cessation of residence declaration form.
• Confident to train your staff about the current law and SARS practice applicable to the 2022 filing season.
• Informed about topics to include in a client communique to alert your clients about current law and practice impacting 2022 filing season obligations.

Dates and venues

• Pretoria - 19 July 2022 - 09:00 - 13:00
  • The Capital Menlyn Maine, 194 Bancor Ave, Menlyn, Pretoria
• Johannesburg - 20 July 2022 - 09:00 - 13:00 
  • Radisson Blue Gautrain Hotel, Cnr Rivonia Road and West Street, Sandton
• Durban - 25 July 2022 - 09:00 - 13:00
  • Umhlanga Coastlands, 329 Umhlanga Rocks Drive, Umhlanga Rocks
• Cape Town City Centre - 26 July 2022 - 09:00 - 13:00 - CANCELLED
  • FNB Portside, 5 Buitengracht St, Cape Town City Centre, Cape Town
• Somerset West - 28 July 2022 - 09:00 - 13:00
  • Lord Charles Hotel, Corner Main Road (M9) & Broadway Boulevard, R44, Somerset West, Cape Town

Dedicated webinar presented over 2 dates:

• 21 July: Part 1 - 09:00 - 11:00
• 22 July: Part 2 - 09:00 - 11:00

Presenter

Diane Seccombe 

BCom, LLB, LLM (Taxation)

Diane Seccombe is an admitted attorney with a master’s degree in taxation and has been involved in tax for well over ten years. Currently the National Head of Taxation with the Mazars Academy, Di provides tax training to Mazars partners, staff, and clients. She also consults on income tax matters including, corporate, individual, and international tax as well as VAT.

Di presents tax seminars on a national basis for, amongst others, Sanlam, ABSA, Old Mutual and various professional institutes. She started her tax career as a full-time academic with the University of KwaZulu-Natal before moving into practice. She has presented numerous tax seminars with enormous success to attendees ranging from JSE corporate advisers to smaller tax practitioners and is a popular lecturer amongst her students. Di’s primary focus in any presentation is that attendees find the material relevant and presented in an understandable and accessible manner.

CPD

This event and successful completion of the online assessment will secure 4 hours verifiable output Tax CPD points.

Event Investment

Face-to-face workshop:

• Tax Faculty CPD Subscribers: R390.00
• Regular price: R1 195.00
• RCB member price: R975.00
• SAIT member price: R780.00
• Printed notes: R60.00
  • Important: Printed copies of notes is optional and will cost additional R60 per set and must be ordered. Should you require a printed copy on the day of the seminar kindly select the printed seminar notes when registering for the event.

Dedicated webinar presented over 2 dates - 21 July (part 1) and 22 July (part 2)

100% discount for all 2022 Tax Faculty CPD subscribers. Not a CPD subscriber yet? Click here to register now.

• Tax Faculty CPD Subscribers: Free
• Regular price: R595.00 (part 1 and 2)
• SAIT member price: R475.00 (part 1 and 2)
• Group price 1 (5 people max): R950.00 (part 1 and 2)
• Group price 2 (10 people max): R1 800.00 (part 1 and 2)
• Group price 3 (15 people max): R2 500.00 (part 1 and 2)

Payments and cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
• Kindly note that should payment not be received 2 days after the event, legal action will be taken
• Proof of payment will be requested at registration, if payment does not reflect on Taxfaculty`s bank account.
• Only written notice of cancellation will be recognized.
• Conditions:
  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.
  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.
• Delegates who book and fail to attend will be liable for the full event fee.
• Taxfaculty`s liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.
• Please click here for the full terms and conditions.