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Income can be divided into different categories depending on the criteria outlined below. Your attention is drawn to the fact that income derived as a donation, qualifies for a Tax Certificate, which is obtained via Marketing and Communications or where vat is claimed in which case a Tax Invoice is obtained via the Finance Division. Please note that where income is generated from an overseas donor, the researcher qualifies to obtain a Tax Invoice. In this case the vat is zero rated. What this means is that all expenses which qualify for vat (i.e. consumables, not car hire or accommodation), can be coded to the vat account (05999 999 192). This effectively means that your original income will be worth 14% more.

 

CRITERA

VAT

SOURCE

ACCOUNT DIGITS

CODE DIGITS

GRANTS(GOVT)

NO DIRECT BEENFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST TAX INVOICE REQUESTED BY FUNDER

VATABLE

CENTRAL/QUASI PROVINCIAL LOCAL

6-8

757

758

759

10-11

71

71

71

GRANTS (GOVT)

NO DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST

EXEMPT

CENTRAL/QUASI PROVINCIAL LOCAL

760

761

762

71

71

71

GRANTS (PRIVATE)

DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST TAX INVOICE ISSUED TO FUNDER

VATABLE

PRIVATE ENTERPRISE

765

72

GRANTS (PRIVATE)

NO DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY UNIVERSITY FINANCIAL OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR CONTRACT MAY EXIST

EXEMPT

PRIVATE ENTERPRISE

766

72

CONTRACTS SA (PRIVATE)

DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY FUNDER RIGHTS VESTED IN FUNDER CONTRACT EXISTS FINANCIAL AND/OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR TAX INVOICE ISSUED TO FUNDER

VATABLE

PRIVATE ENTERPRISE

767

72

CONTRACTS FOREIGN (PRIVATE)

DIRECT BENEFIT TO FUNDER PROJECT DEFINED BY FUNDER RIGHTS VESTED IN FUNDER CONTRACT EXISTS FINANCIAL AND/OR OTHER REPORTS REQUIRED REFUNDABLE IF UNUSED OR IMPROPERLY ACCOUNTED FOR ZERO-RATED TAX INVOICE ISSUED TO FUNDER

ZERO-RATED

PRIVATE ENTERPRISE

767

72

DONATIONS (PRIVATE)

NO BENEFIT TO DONOR NOT REFUNDABLE VALUE CAN BE ESTABLISHED VALUE CAN BE CASH OR IN KIND TAX CERTIFICATE ITO SECT 18A ISSUED

EXEMPT

PRIVATE ENTERPRISE INDIVIDUALS CHARITABLE FUNDS TRUSTS

768

72

DONATIONS (PRIVATE)

NO BENEFIT TO DONOR NOT REFUNDABLE VALUE CAN BE CASH OR IN KIND VALUE CAN BE ESTABLISHED TAX CERTIFICATE ITO SECT 18A ISSUED

EXEMPT

FOUNDATIONS ASSOCIATIONS NOT FOR GAIN FOREIGN

769

72

SALES/ SERVICES OF EDUCATIONAL ACTIVITIES

EDUCATIONAL ACTIVITIES OFFERED TO GENERAL PUBLIC DIALOGUE WITH ACADEMIC PEERS NOT REFUNDABLE NO FINANCIAL OR OTHER REPORTS

EXEMPT

COURSE FEES EDUCATIONAL CONFERENCES WORKSHOPS SUMMER SCHOOL SEMINARS FUNDS EARNED PRIVATLEY FROM CONSULTANCY WORK

783-784

76

OTHER

CONSULTANTS FEES TAX INVOICE ISSUED

VATABLE

SERVICE TO GENERAL PUBLIC SALE OF RESEARCH PAPERS SALE OF BOOKS ROYALTIES

800

83

Last Modified : Fri, 26 May 2017 15:21:25 SAST