Available Course

Leasing vs instalment sales. Income Tax vs VAT

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Duration: 2.00
CPD Hours: Attendance at this seminar will secure 2 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Course Facilitator: Carmen Westermeyer
T:  0118861395
E:  gillian@probetatraining.co.za

Leasing is an area that is often misunderstood from a tax point of view. This session aims to look at the difference between sales of assets, leasing of assets and deferred sales.

After attending this course, delegates will have gained an understanding of the competencies mentioned below and must be able to apply the concepts and techniques in most situations and environments: • How to account for an instalment sale agreement for Income Tax and VAT purposes • How to account for a sale of an assets for Income Tax and VAT purposes • How to account for a lease for Income Tax and VAT purposes

The aim of this session is to cover difference in meaning between sale, instalment sale agreement, instalment credit agreement and lease from both a VAT and Income Tax perspective. This course will cover: • The legal aspects of the various ownership transfer methods • The differences in interpretation between income tax and VAT • The potential income tax recoupment’s from leases • How it all should be accounted for from an Income Tax and VAT perspective

This course would be useful for all persons who provide tax advice for any clients. It would also be useful for any persons who are responsibility for the tax compliance of their businesses or their clients. Any delegate that is looking to get a refresher on the above topics would also be welcome.