SARS will look at your Facebook, credit cards and other data to see what tax you owe, say experts

[BusinessTech]

SARS will look at your Facebook, credit cards and other data to see what tax you owe, say experts

The issue of lifestyle audits and the use of third-party data by the South African Revenue Service (SARS) has once again come under the spotlight, with tax experts warning that taxpayers must disclose any substantial transactions, including those made with cryptocurrencies.

 

[supersunbird]

How will they know a FB profile is a specific persons? Or do they mean those flashy types making sure everyone know who they are, showing off on social media?

 

[dualmeister]

Yes sure. Because nobody lies on social media.

 

[Jet-Fighter7700]

pay your TV license folks, the SABC will spy on your FB posts and ask you if you paid TV license.

 

[chromedome]

If they look at my facebook profile, I'll probably get a rebate.

 

[dusi]

When is SARS going to do a lifestyle audit on Julius

 

[Bewlen]

You can almost start to smell the desperation in the air......

 

[deweyzeph]

If someone is prepared to lie on their tax return what's stopping them from just simply lying in a lifestyle audit?

 

[Kornhub]

But wont look at the ANC who owe them...

 

[mojoman]

Sh$T.....best get that Lear Jet off my profile....

 

[ShaunSA]

Great. Can they start with the politicians?

 

[rvZA]

I believe inside SARS there were talks about monitoring Facebook marketplaces. Any person they identify buying or selling will be charged tax at the end of the year and they will look if the sales & purchases are reported on the tax returns. Criminal charges will be instituted against buyers and sellers not reporting. Back when I heard this, I thought it was a joke. Now the time has come to create anonymous Facebook accounts for me.

 

[OCP]

I believe inside SARS there were talks about monitoring Facebook marketplaces. Any person they identify buying or selling will be charged tax at the end of the year and they will look if the sales & purchases are reported on the tax returns. Criminal charges will be instituted against buyers and sellers not reporting. Back when I heard this, I thought it was a joke. Now the time has come to create anonymous Facebook accounts for me.

only if you sell though - why would you need to pay tax on purchases?

 

[SeRpEnT]

 

[Surv0]

Well joke is on you if they can find out what you are doing via social media...

 

[SeRpEnT]

I believe inside SARS there were talks about monitoring Facebook marketplaces. Any person they identify buying or selling will be charged tax at the end of the year and they will look if the sales & purchases are reported on the tax returns. Criminal charges will be instituted against buyers and sellers not reporting. Back when I heard this, I thought it was a joke. Now the time has come to create anonymous Facebook accounts for me.

And Gumtree will start asking for your Tax # when placing an add... lol.

 

[deweyzeph]

I believe inside SARS there were talks about monitoring Facebook marketplaces. Any person they identify buying or selling will be charged tax at the end of the year and they will look if the sales & purchases are reported on the tax returns. Criminal charges will be instituted against buyers and sellers not reporting. Back when I heard this, I thought it was a joke. Now the time has come to create anonymous Facebook accounts for me.

That's not how tax works. You don't just get "charged tax". You have to be assessed, the various rebates considered, and tax assessed on your net profit, taking into consideration all your allowable deductions.

 

[Pineapple Smurf]

 

[Neuk_]

I am all for lifestyle audit's in certain cases, but how will they look at someone's Facebook profile if said profile is not 'public'?

 

[Pineapple Smurf]

I am all for lifestyle audit's in certain cases, but how will they look at someone's Facebook profile if said profile is not 'public'?

Just click accept when SARS adds you as a friend