SuperSpark advises on entries in the Acquisition and Disposal register

Gerrit from Benoni wants to know why the actual time in the Acquisition and Disposal register must be recorded when acquiring stock or delivering a vehicle.

He wrote,

"I recently had an onsite inspection by the SAPS and they insisted that I record the actual time of acquisition and or disposal of my stock.

"My question is twofold: What is the reason for this and when do I legally own a vehicle?"

SuperSpark replies:

Dear Gerrit,

To answer your first question, recording the times in your register is to cover yourself - should the vehicle have been used in a criminal activity such as a robbery or hijacking before acquisition or after disposal.

Your second question is a highly debatable one. But for this purpose, my recommendation is to record the time in your Acquisition register when you physically took possession of the purchased vehicle. This also applies to your trade-ins.

Gotta fly, happy trading...

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