Page 135 - ADVANCED TAXATION - Day 1 Slides

Deemed Supply: Fringe Benefits

Intended to reverse portion of the input tax previously

claimed by the vendor. Not

salaries

ONLY applicable to fringe benefits per 7 Schedule to
th
the Income Tax Act.

No deemed supply if the fringe benefit relates to:

 an exempt supply

 a zero-rated supply, or

 the supply of entertainment (e.g. meals)