Remeber the following:
Company Car
No VAT = denied
Claim amount output VAT as Fringe benefit % Taxable Supplies We use the car for
Insurance % Taxable Supplies entire business
Import machine Cost R 2 583.00
1. Transaction date Ship Import duties
R 150.00
2. Translation date YE Output R 517.00
Net effect = R0
3. Realisation date Settle Input R (517.00)
R 2 733.00
Dividends
GI Gross amount + withholding tax Thus 100/%
(exempt)
xxx No claim on expenses
Flats
No VAT = exempt
Low cost PER flat? (If not = 5%)
Rent received = earlier
- Receipt
- Accruals
Interest: Dividends:
1. Local 1. Local Cash dividend
R23 800 100% (We need gross amount, THUS x 100/Withholding)
R34 500
2. Foreign 2. Foreign
100% if Non-Resident > 10% Equity of 100% Listed
Trust Company
25/45 8/28
Company Car
No VAT = denied
Claim amount output VAT as Fringe benefit % Taxable Supplies We use the car for
Insurance % Taxable Supplies entire business
Import machine Cost R 2 583.00
1. Transaction date Ship Import duties
R 150.00
2. Translation date YE Output R 517.00
Net effect = R0
3. Realisation date Settle Input R (517.00)
R 2 733.00
Dividends
GI Gross amount + withholding tax Thus 100/%
(exempt)
xxx No claim on expenses
Flats
No VAT = exempt
Low cost PER flat? (If not = 5%)
Rent received = earlier
- Receipt
- Accruals
Interest: Dividends:
1. Local 1. Local Cash dividend
R23 800 100% (We need gross amount, THUS x 100/Withholding)
R34 500
2. Foreign 2. Foreign
100% if Non-Resident > 10% Equity of 100% Listed
Trust Company
25/45 8/28
