IFP MEDIA STATEMENT BY: 
MR NAREND SINGH MP
IFP SPOKESPERSON ON FINANCE

1st April 2008

The Inkatha Freedom Party would support tax rebates on security costs for businesses, as suggested by a draft circular released by the South African Revenue Services, but we believe a similar rebate for individuals should be given some thought as well.

The cost of doing business in South Africa has increased over the past couple of years and rampant crime has fuelled these costs. Businesses fork out hundreds and thousands of rands yearly for fighting crime and we believe that tax concessions are definitely a step in the right direction.

Similarly, individuals spend a considerable amount of money to keep their families and belongings safe. Monthly services fees of a satellite tracking systems for cars, monthly armed response fees, food costs and veterinary bills for guard dogs, amount to quite a substantial yearly amount.

Therefore, the IFP would want to see SARS and Government consider a primary security rebate for individuals as well.

Surely Government and SARS must acknowledge that not only businesses are owed tax concessions for fighting crime, but that ordinary South Africans, already cash-strapped as it is, should receive some compensation for combating crime, where the State has failed to do so.