SA has run out of taxpayers, says Dawie Roodt

[Mr Justice]

So many excuses for poverty. Maybe we shouldn't rely on 10% of the population's taxes.

 

[Mr Justice]

A vendor that is not registered for VAT does not have a "VAT portion" on their markup as they do not have a VAT number and therefore they are not permitted to charge VAT. Btw a vendor may voluntarily register as a VAT vendor below the threshold.

The vendor pays vat upfront at supplier. The price is already part of the selling price. Its not added later.

 

[ProfA]

Economy is fine. All the businesses still closing for an entire month for festive season despite being closed for COVID, is proof thereof.

 

[The_Librarian]

Economy is fine.

Then why the battle to float SoE's?

 

[wingnut771]

Economy is fine. All the businesses still closing for an entire month for festive season despite being closed for COVID, is proof thereof.

Tell that to all the people that have been retrenched, me being one of them. This was BEFORE covid.

 

[Milano]

The vendor pays vat upfront at supplier. The price is already part of the selling price. Its not added later.

This is a discussion of markup on resale, not the cost of sales. The cost of the goods would include VAT only if the reseller bought from a VAT vendor. Re-selling an item that included VAT in the cost does not make you a VAT vendor. It is against the law to charge VAT if you do not have a valid VAT registration number irrespective of whether or not you paid VAT on that item originally.

 

[rietrot]

Economy is fine. All the businesses still closing for an entire month for festive season despite being closed for COVID, is proof thereof.

Most businesses I know of are staying open. Maybe closing just one week between xmas and new years.

We are about to see early next year as retrenchments are starting now and the bailout money and payment holidays are coming to an end

 

[Milano]

We are about to see early next year as retrenchments are starting now and the bailout money and payment holidays are coming to an end

True

 

[rietrot]

True

It's all happening a lot slower than I initially thought it would.

 

[ProfA]

This is a discussion of markup on resale, not the cost of sales. The cost of the goods would include VAT only if the reseller bought from a VAT vendor. Re-selling an item that included VAT in the cost does not make you a VAT vendor. It is against the law to charge VAT if you do not have a valid VAT registration number irrespective of whether or not you paid VAT on that item originally.

When a home decor place that makes headboards and curtain rails for builders warehouse tells you they are closing from 15 December to 15 January and that any orders placed now will only be done in March/April....the economy to me seems just fine. I have a civil case pending and was told by my lawyer and scumbags I am sueing's scumbag lawyer they are all closed from 15 December to 15 January.

Just my opinion of course, based on MY observations.

 

[ProfA]

Tell that to all the people that have been retrenched, me being one of them. This was BEFORE covid.

Without divulging personal info, do you mind sharing what industry you were in? And if you have found new employment yet?

 

[ProfA]

Then why the battle to float SoE's?

Because stupid. Not you. The decision makers. There is fckall good reason for many SOE's other than jobs for friends. Not to do with the economy. In fact, a failing economy I think is exactly the reason to shut most of these places down. Many should be able to find work at private sector companies that will take over the role of those SOE's. Example, an air craft technician, if competent, should be able to get a job at another airline no?

 

[wingnut771]

Without divulging personal info, do you mind sharing what industry you were in? And if you have found new employment yet?

The printing industry. I've since being doing subcontracting work by dealing straight with the customer instead of going through the supplier I used to work for (since 2001). Unfortunately, you do the work (which is few and far between) but then you end up sending reminder after reminder for them to pay. Ultimately, you have to wait for something to break again before they pay up. Last month I invoiced R30000, only got paid R3500.

 

[Swa]

When a home decor place that makes headboards and curtain rails for builders warehouse tells you they are closing from 15 December to 15 January and that any orders placed now will only be done in March/April....the economy to me seems just fine. I have a civil case pending and was told by my lawyer and scumbags I am sueing's scumbag lawyer they are all closed from 15 December to 15 January.

Just my opinion of course, based on MY observations.

Some are dependent on sectors that are closed. Like lawyers can't work because courts are taking leave. Also depends on whether you'll lose business by closing or just do the work later.

 

[WollieVerstege]

Heading is true no matter which direction you read it.
SA has run out of taxpayers &
Taxpayers have run out of SA

 

[ProfA]

Some are dependent on sectors that are closed. Like lawyers can't work because courts are taking leave. Also depends on whether you'll lose business by closing or just do the work later.

I agree. But many places are doing just that. Closing despite losing business and despite their suppliers being open. Why would a furniture place close despite a backlog of orders?

 

[ProfA]

The printing industry. I've since being doing subcontracting work by dealing straight with the customer instead of going through the supplier I used to work for (since 2001). Unfortunately, you do the work (which is few and far between) but then you end up sending reminder after reminder for them to pay. Ultimately, you have to wait for something to break again before they pay up. Last month I invoiced R30000, only got paid R3500.

****. im sorry to hear this, and yes i agree some industries like yours do take a knock in times like this.