So I am thinking of selling my bakkie as I never use it. Will do it privately on gumtree - have bought and sold a fair amount over the years with absolutely no problems. But this is now quite a bit higher value. My question is, how to get the money - around R100K. Obviously cash is not on, so ETF it is. But how long do I wait to make sure the cleared amount is actually cleared? And any cons to look out for?
When I bought the bakkie I was vat reg and did receive the vat back. That was 4 years ago, no longer vat reg, bakkie is paid of, all claimed as an expense. Was a sole prop.
If I sold, would the R100K be counted as income?
Would I owe any vat back.
Or is is better to wait a certain time and have the bakkie written off to zero in the books?
I do not need to sell it, so time is not an issue - but would rather have the cash invested.