|
TaxTim says: 21 November 2014 at 15:05 You have one year within which to pay the loan back or if you charge a normal market related interest then you can avoid it being declared a deemed dividend. |
|
Mark says: 21 November 2014 at 17:19 Great, thanks for your response. Just to clarify, does this mean that if my CC's return gets submitted now for 2014, reflecting the debit loan account balance, SARS won't act on this until they've assessed the 2015 return to see whether the loan has been repaid? Also will the situation be affected by the fact that there haven't been any salaries or bonuses paid during the year & the CC is showing a profit? |
|
|
TaxTim says: 21 November 2014 at 17:43 It should not make a difference, however next year if they do an audit and see the differences you should have everything in place by then. |
Do Your Tax Return Easily