SARS scores a R10 million victory against a citrus farmer

[Kirsten Minnaar]

SARS scores a R10 million victory against a citrus farmer

The Western Cape High Court handed SARS a major victory by disallowing Meiring Citrus's R10 million self-insurance tax deduction, reaffirming SARS's power to reopen prescribed assessments.

 

[GrootBaas]

Interesting. I received a call from an insurance broker two weeks ago who briefly suggested a similar scheme to me, trying to win our company's business. If it sounds too good to be true...

 

[Sideshow Bob]

That was very clever of farmer but if SARS digs into you, you are done.

 

[Hemi300c]

There has been for years, no actual tax benefit from cell captives/self insurance fund through an insurer. Although there are morons out there in the industry that still sell this benefit that isn't there.