Good Day to All
I have just started the process to sell my house. I have hopefully done enough research about all the costs involved, but there is one question I have that I just cannot find an answer to so I can rest easy. The purchase price on the mandate from the estate agent states my asking price, but also states, including VAT. Now surely if this is so then working the VAT back the actual asking price is 15% less and that 15% is liable to be paid to SARS. The house is where I live, and we are in the process of building a new home to move to. We used to work from home many years ago and pay rates as business and general, and I never changed that in case we had to work from home again. I am assuming that when the property is sold the new owners (if they want to carry on a business from the residence, will have to apply again). Surely this would not have anything to do with VAT on my house or is this just the way mandates are worded.?
Really appreciate any feedback.
Thanks
Gemais