Whatshot

2026
All
September
2025
All
November
All
2024
All
June
All
April
All
2023
All
March
All
2022
All
2021
All
2020
All
March
All
February
All
2019
All
December
All
November
All
October
All
September
All
August
All
July
All
June
All
May
All
April
All
March
All
February
All
2018
All
December
All
November
All
October
All
September
All
August
All
July
All
June
All
May
All
April
All
March
All
February
All
2017
All
December
All
November
All
October
All
September
All
August
All
July
All
June
All
May
All
April
All
March
All
February
All
January
All
2016
All
December
All
November
All
October
All
September
All
August
All
July
All
June
All
May
All
April
All
March
All
February
All
January
All
2015
All
December
All
November
All
October
All
September
All
August
All
July
All
June
All
May
All
DHS
April
All
March
All
February
All
January
All
2014
All
December
All
November
All
October
All
September
All
August
All
July
All
June
All
KZN
May
All
April
All
March
All
February
All
January
All
2013
All
December
All
November
All
October
All
September
All
August
All
July
All
June
All
May
All
April
All
March
All
February
All
January
All
2012
All
December
All
November
All
October
All
September
All
August
All
July
All

Vat Input - Are You Claiming All You Should Be?

Vat Input - Are You Claiming All You Should Be?

Author: Natalie Wocke
Date: 2014-06-20
Installment Credit Agreements: Special Rules:

Special rules apply to installment credit agreements, in relation to the timing of the input claim.

These rules direct that the full input on the cash sales value may be claimed at the earlier of delivery of the goods, or the time any payment is made, as long as any time for "cooling off" - (where the purchaser has a right to return the goods), has expired.

E.g.: A vendor purchases a new truck for R1 ,140,000, payable in monthly installments over 4 years. An old truck is traded in as a deposit. (The vendor must declare the capital output on the consideration received for the trade-in). The vendor may immediately claim the R140, 000 vat input on the cash sales value of R1, 000, 000 - subject to them being in possession of the relevant supporting documentation.

The full input will be refunded "up-front", resulting in a useful cash injection into the vendor's business.

A common error encountered in practice is where the vendor claims input on the installments themselves. This results in input being over claimed, as the installment contains an element of interest, which is exempt from VAT.

The good news is, you have 5 years in which to claim input vat..... In the event that you have not claimed all you should have, you may still claim what is due to you, (subject to documentary requirements), within 5 years.

Have you claimed all you should? For a consultation on your vat matters, contact Roberts and Chaplin on 032 586 0387 (Ballito) or 947 1010 (Umhlali).