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Thread: VAT input on property purchased

  1. #1
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    VAT input on property purchased

    Good day everyone,

    I need some help please.

    We are a cc and we bought a property to be used as offices. Please could someone help me and explain if we and how we could claim input VAT on this
    office bought?

    The following applies:

    - Bought the office building for R 3 850 000.00
    - Paid Transfer duty via attorneys R 135 000.00
    - Total cost R 3 985 000.00

    We are VAT registered and the seller was not (natural person).

    As I understand we can claim input VAT on the property.

    Please could someone shed some light as I don't want to make a mistake with this

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    Morning,

    Anyone here that can help me please.

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    As far as I know notional input tax 15/115 can be claimed by the registered purchaser as input VAT.

    See page 22 of the attachment. Perhaps read the whole thing.LAPD-VAT-G03 - VAT 409 Guide for Fixed Property and Construction (1).pdf
    Last edited by Andromeda; 14-Jan-20 at 11:03 AM. Reason: Clarification

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    mango (14-Jan-20)

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    Thank you ! Its much appreciated !

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    Hi Mango,

    It all depends on the conditions as far as I know Andromeda is correct depending on the details, notional input tax on secondhand goods can apply in certain circumstances, but I believe since there was transfer duty this changes the situation, before submitting contact your accountant as SARS will most likely select that return for verification

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