"KZN pilot held in Dubai on debt claim" ...This was the headline of a local newspaper recently. 1 In summary the pilot signed surety for his son's debt and found himself in a jail cell as a result.

All too often people needing to raise finance are presented with a suretyship document to sign. A suretyship is an agreement to take on the responsibility of another's debt or obligation.
DO YOU REALLY WANT TO PAY SOMEONE ELSE'S DEBT?
As part of SARS' recent media release emphasising the implementation of its new tough penalty regime, SARS is threatening to take the money from your bank or your employer.
On 14 October 2009, SARS issued a media release indicating that it would be enforcing the new penalty regime with effect from 23 November 2009. In summary, non-compliant taxpayers will attract a monthly penalty based on their income of at least R250 per month for EACH outstanding return. 


