Home Owners Associations: New Vat Rules

hoanewvatrules

Until now HOAs have been obliged to register with SARS as VAT vendors where annual levies exceeded R1m.  That has now changed – HOAs have been brought into line with sectional title body corporates and exempted from compulsory registration.  HOAs:  Take advice from a registered tax practitioner on whether or not it will be advantageous to you to apply to SARS to remain registered on a voluntary basis.

Taxation Laws Amendment Act ​No. 31 of 2013 – Promulgated in ​GG 37158 on ​12 December 2013

See also the article “Home-owners associations cease to be vendors for VAT purposes” on the SAICA website.
 

Ashersons Attorneys

Ashersons Attorneys

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