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Research finds that absenteeism is the reason South Africa's losing its competitive edge
New research has found that South Africa's losing its competitive edge. And it's all thanks to absenteeism. That's just the tip of the tip of the iceberg. There are other worrying trends when it comes to sick leave abuse in the workplace. Here are the details of the study... [read more...]New B-BBEE codes unveiled! Find out what this means for your business...
Trade and Industry Minister Rob Davies has unveiled the new Broad-Based Black Economic Empowerment (B-BBEE) codes of good practice. Davies announced the new codes yesterday at the B-BBEE summit in Midrand. Reports suggest the codes will be published in the Government Gazette on October 11. Read on [read more...]Department of Trade and Industry set to announce new B-BBEE codes...
The Department of Trade and Industry, together with the Black Economic Empowerment advisory council, will announce new Broad-Based Black Economic Empowerment (B-BBEE) codes of good practice at a summit on 3 and 4 October, Fin24 reports. Read on to find out how this announcement could affect your [read more...]by FSP Business, 18 October 2013 |
Section 1 of the Vat Act specifically includes partnerships in the definition of a person.
This means the Vat Act treats partnerships as 'persons'.
The Vat Act makes an exception for partnerships in that it allows a partnership to apply to be registered as a vendor, despite the fact that a partnership isn't a legal person.
This is because the Vat Act requires every 'person' who carries on an enterprise, in which the total value of all taxable supplies made by that person exceeds or will exceed R1 million in any 12-month period to register as a Vat vendor.
Although the partnership is seen as a vendor for Vat purposes, the individual partners are jointly and severally liable for the vendor's duties under the Vat Act, including the payment of Vat due to SARS
So if you belong to a partnership, you and the other partners for your partnerships' are liable for your Vat obligations until you decide to terminate your partnership.
Basically, the partnership must register as a Vat vendor (if it qualifies for registration) and will be liable for its Vat. The individual partners are jointly and severally liable for the partnership's Vat.
Now that you know how the Vat Act treats partnerships, make sure you comply.
We have this person working for us as a contractor for 12 years. I have tried to get this person as a permanent worker but HR say that he must have metric. What I whant to know is it fare fore the company to refuse this ... [see the answer]