SARS are sending information notices to Tannenbaum scheme participants - to commence audits

TAXtalk
2009/11/25

SARS are sending out the first information notices to commence tax audits on Tannenbaum scheme participants. Be very careful of your constitutional rights in complying with SARS'request. THe are already participating as observers at the secret FICA inquiries taking place to gather as much information about the participants - not just Tannenbaum and Rees. How you approach this investigation will go a long way towards allowing to to claim any losses. SARS have already warned they will not allow the deduction of losses. If it was an investment - they may be right. If it was a loan, they may also be right. But there is one more possibility that may give you the deduction - but what you say now, and have said in the past will become part of the evidence to support or refute the deduction of the loss opportunity.

A closed seminar for parties affected by the Tannenbaum Scheme will be held (and their advisors are invited) to explore the opportunities for claiming a tax deduction.

The seminar will be held and broadcast on-line with an opportunity for delegates to ask questions. Interested participants are invited to contact Gilbert Ferreira on gilfer@me.com to book their seat.