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LEGAL implications of selling as commercial member... in your PRIVATE capacity.
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<blockquote data-quote="AlienLlama" data-source="post: 892370" data-attributes="member: 20482"><p>People will almost certainly exploit the courtesy given. So it's not personal, Judy. Just a precaution.You simply can't make an exception in this case. As for the taxman, onus of proof is not ALWAYS on the taxpayer. Read S102 of the tax admin act. Having a seperate account will not exempt you entirely. A lot of factors come in to play but if SARS checks the date of import and compares it to the date of sale for instance it's pretty easy to see whether it was or wasn't a private sale or if it was merely selling a previously owned personal use asset .This can trigger different taxes. When the item is still new and sealed, things will not be in your favour. If it's secondhand you have a bit of wiggle room. To be safe, keep it seperate always. Don't ever sell new stuff as your personal items. Value of the item will also come to play. If I was SARS I'd target high value import items first to claw revenue back. Be careful out there.</p><p></p><p>Sent from my HUAWEI VNS-L31 using Tapatalk</p></blockquote><p></p>
[QUOTE="AlienLlama, post: 892370, member: 20482"] People will almost certainly exploit the courtesy given. So it's not personal, Judy. Just a precaution.You simply can't make an exception in this case. As for the taxman, onus of proof is not ALWAYS on the taxpayer. Read S102 of the tax admin act. Having a seperate account will not exempt you entirely. A lot of factors come in to play but if SARS checks the date of import and compares it to the date of sale for instance it's pretty easy to see whether it was or wasn't a private sale or if it was merely selling a previously owned personal use asset .This can trigger different taxes. When the item is still new and sealed, things will not be in your favour. If it's secondhand you have a bit of wiggle room. To be safe, keep it seperate always. Don't ever sell new stuff as your personal items. Value of the item will also come to play. If I was SARS I'd target high value import items first to claw revenue back. Be careful out there. Sent from my HUAWEI VNS-L31 using Tapatalk [/QUOTE]
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LEGAL implications of selling as commercial member... in your PRIVATE capacity.
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