Page 21 - ADVANCED TAXATION - Day 1 Slides

21
Solution

(a) Value of supply < R100 000 = payment received – 31 March.

(b) Value of supply < R100 000 = payment received – 29 April.

(c) Value of supply > R100 000

the time of supply is determined by applying the rules for the invoice

basis: the earlier of payment or the date the invoice is issued - 19 July.