Always adding value, thank you! I have a question, I recently incorporated a new company that has no revenue, and therefore do not qualify to apply for our VAT no. voluntarily. (Minimum is R50k, mandatory is R1mil/year) We have a large sale coming in where we'll be reselling to our client, our supplier obviously charges us a VAT inclusive price but do we still charge the inclusive price to our client? Do I still keep that amount in a seperate account for when I apply for VAT no. after the revenue is on our books? Would appreciate guidance.
Heinrich thank you for this great video. Can our business claim VAT on a car repayments on a light passenger vehicle brought through the business on finance? Thanks
Hi im in the vegetation management services and have a contract that has been awarded in 2020. now my business runs mainly on petrol and diesel during cutting of grass, the rice of petroleum products has increased dramatically since then and we have been running at a loss since. what happens then if we are cannot pay VAT as the money is used to cover losses and other over head expenses?
Yes, so if you are a farmer, miner or fisherman you cant claim input vat as you are not buying anything, but the expenses you incur to produce the products you can claim on, like machinery and operating expenses
Sir Let say I registered for VAT and the first two months of doing return I dnt make sales but I've got monthly expenses is SARS going to change me? If so why would they charge me and how much will it be and how is it calculated? Thank you. 🤝
I supply goods to government departments and I now want to register for VAT so I can open accounts with distributors/manufacturers and buy directly instead of the retail stores. Is it wise to register for VAT the same entity I use to supply or it's best I have a separate entity for supplying and different one for buying from distributors/manufacturers?
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Thanks for the free advisory service. Most Accountants charge per hour forbthis information
Happy to help
Way better than a 2 hour lecturer
Thank you
I like the way you explain your topics, you really help me alot. Thank you very much.
Thank you very much for your kind words! Its people like you who inspire me to keep on doing these videos!
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Always adding value, thank you!
I have a question, I recently incorporated a new company that has no revenue, and therefore do not qualify to apply for our VAT no. voluntarily. (Minimum is R50k, mandatory is R1mil/year)
We have a large sale coming in where we'll be reselling to our client, our supplier obviously charges us a VAT inclusive price but do we still charge the inclusive price to our client? Do I still keep that amount in a seperate account for when I apply for VAT no. after the revenue is on our books?
Would appreciate guidance.
Another great video! Thanks for the lovely explanations!
Glad you enjoyed it!
@@SAAccountingNetwork What's your contact details
Happy to have found this Channel. Thank you
Welcome!
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Thank you for your video, very informative. Do you have a video regarding Insurer tax invoices with broker fee etc and what is VAT / Zero Rated.
Unfortunately not, that is quite a specialized field
Thank You, very informative and detailed.
Glad you enjoyed it!
Heinrich thank you for this great video. Can our business claim VAT on a car repayments on a light passenger vehicle brought through the business on finance? Thanks
th-cam.com/video/hWTKWu5Eomo/w-d-xo.html
Very informative 👏
Thanks
Great video, do you recommend any booking software
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Very informative, thank you so much for this video.
Glad it was helpful!
Thank you, quite insightful
Glad it was helpful!
Hi im in the vegetation management services and have a contract that has been awarded in 2020. now my business runs mainly on petrol and diesel during cutting of grass, the rice of petroleum products has increased dramatically since then and we have been running at a loss since. what happens then if we are cannot pay VAT as the money is used to cover losses and other over head expenses?
th-cam.com/video/ao4upJGI_P0/w-d-xo.html
Thank you for this informative video!
Glad it was helpful!
much constructive, big up🤝
Appreciated
Thank you for the great work.
Thank you!
do the first person in the chain not pay any vat? surley they dont get their stuff for free with out vat
Yes, so if you are a farmer, miner or fisherman you cant claim input vat as you are not buying anything, but the expenses you incur to produce the products you can claim on, like machinery and operating expenses
Very informative 10/10.
Glad you think so!
th-cam.com/video/hWTKWu5Eomo/w-d-xo.html
Succinct and useful. Thank you!
Glad it was helpful!
Sir
Let say I registered for VAT and the first two months of doing return I dnt make sales but I've got monthly expenses is SARS going to change me? If so why would they charge me and how much will it be and how is it calculated?
Thank you. 🤝
th-cam.com/video/uaZoru60sYc/w-d-xo.html
I supply goods to government departments and I now want to register for VAT so I can open accounts with distributors/manufacturers and buy directly instead of the retail stores. Is it wise to register for VAT the same entity I use to supply or it's best I have a separate entity for supplying and different one for buying from distributors/manufacturers?
I personally would keep operations as simple as possible, so my recommendation would be to do it through one company
Can i take the 15% to use it to do something which will give me more money?then pay back the 15%
In theory yes, but when they come knocking on your door you must have it ready!
Can you tell me about import tax
That is quite a specialized field, best to chat to your accountant
Thank you.
You're welcome!
Excellent
Thank you so much!
Hi. Is this still relevant in 2023?
Yes it is👍
@@SAAccountingNetwork Thank you. This video helped me out a lot😌... You've got me as a sub🙏