Expenses of protecting yourself against crime must be tax deductible, says lobby group

Excessive partitions, security cameras, burglar alarms, electrical fences, razor wire, armed-response companies and products and residential insurance protection: A lobby group has launched a advertising campaign for all these prices to be deducted from tax.

TLU SA stated on Tuesday it needs a commerce to fragment 23(b) of the Earnings Tax Act, which prohibits South Africans from deducting security prices from earnings tax — even supposing companies can deduct these prices.

“Limitless South Africans believe been subjected to the gravest invasion of their freedom by becoming victims of violence,” stated Henry Geldenhuys, the president of TLU SA.

“The structure requires the advise to present protection to us from such invasions. Alternatively, the advise’s train failure to enact so is painfully obvious, ultimate from searching at its relish statistics.”

Per Stats SA, housebreaking or burglary is the number one crime in SA. An estimated 1.2 million housebreaking incidents occurred within the 2019/20 statistical year by myself, affecting 891,000 households in our country.

Enjoy these on farms, South Africans residing in a long way away areas are namely prone, as they stay a long way from any beget of assist.

“Furious about the grave hazard South Africans face every single day, it’s a long way completely disgraceful that the advise doesn’t allow security expenditure incurred by a taxpayer in securing their pickle to be deducted from their earnings tax,” stated Geldenhuys.

Portion 77 of the structure affords easiest the minister of finance, for the time being Tito Mboweni, the energy to instigate the amendment.

“We call on all peace-loving South Africans, regardless of ride, gender, age or creed, to hitch us in one stutter, demanding the minister amend the structure so we can offer protection to ourselves,” the organisation stated.

TimesLIVE (TMG Digital)

BY TIMESLIVE