SARS checks your bank account for tax discrepancies

In a recent court case, SARS nailed the taxpayer based on information obtained from their bank This did not make it to the tax return— and SARS computed that roughly R4.5 million was undeclared. They also charged interest and penalties hereon.

SARS has full access to your information
Everyone now knows that information from financial institutions, estate agents, car dealerships etc. is not confidential.

This is often conveniently ignored and until SARS goes right back and dig into the past—in this case, from 2007 to 2010. This is scary for many taxpayers to think that they have to remember their past dating …