What is a “Rental”?
A rental agreement is a financing tool that is used to finance an asset for your business, but which is NOT your asset or which does not become your property automatically. Expenses towards a rental agreement (the nett installment, insurance & maintenance) are tax deductable in terms of the S.A. Tax Act.
You will also receive a monthly VAT invoice for your VAT return, provided you are VAT-registered. You can see that a “Rental” can be very beneficial to your business. Your bookkeeper / auditor will be able to advise you in more detail.
You may already have equipment in mind that you need to rent or you may be a vendor that wants to supply such a service to your clients. Let us arrange this for you. Test our speedy turn-around time on approvals. We offer the best rates and best service.
For more information contact me at herman@selectafin.co.za