Will SARS allow personal vehicle expenses as deductible if the vehicle is partly used for business?

  Written by Marc   Posted 2 November 2015

I own 18 rental apartments which I am renting out. I will be retiring next year from my employment and concentrating on managing these properties and also doing related maintenance myself. I currently own a SUV vehicle which I intend keeping and using it for both property maintenance and also private purposes. Will the tax authorities allow a portion of the vehicle expenses as tax deductible against the rental income to the extent they relate to property maintenance, or do I necessarily need to ...

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Tax deduction for computer

  Written by Evan   Posted 29 October 2015

On the 31st January 2013, a company purchased computer equipment R34,750. This equipment was stolen on the 1st October 2014 and Insurance proceeds of R14,500 were received. What would the tax deduction be?

Car Deductions

  Written by Marc   Posted 23 October 2015

As a SARS commission earner, I keep a detailed logbook. Do I need my petrol slips for anything?

also where does deemed vs actual cost come in?

Can I claim depreciation for my car as a sole proprietor if I have a log book by using the tax table

  Written by Marc   Posted 23 October 2015

I am operating as a sole proprietor. I keep a log book for my car which I also use for business. Can I claim for depreciation and use the tax tables for that?

Wear and tear calculation for the 2015 tax year for a self employed individual

  Written by Marc   Posted 22 October 2015

With respect to self-employed individuals for the 2015 tax year... What is the write off period for a vehicle used for business travel?
Is the cost of the vehicle divided by 4 or 7 years? I'm trying to calculate the wear and tear amount which I can include for the calculation of actual costs. Thanks!

How to catch up on outstanding returns when I have no income and expenditure records

  Written by Marc   Posted 20 October 2015

I resigned from my job in 2010 and took my pension to buy a small business, which I ran as a sole proprietor for 2. 5 years. During this time, I did not submit a tax return, as I wasn't sure how to do it. Also, I was not making much profit and more or less came out even at the end of every month. I then passed the business on to my son-in-law and started working again in 2013. All the income and expenditure info relating to the business was contained on a laptop, which subsequently crashed, so I...

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Vehicle Purchased For Business and Personal

  Written by Marc   Posted 16 October 2015

I recently purchased a car cash for business and personal use. The amount paid was R103,000. How can I go about claiming a portion thereof as a tax deductible expense if I also use it for my business?

How do I apportion the depreciation?

  Written by Marc   Posted 15 October 2015

Good day. I have a cell phone worth 5400. I use it 80% for business and 20% personal use. Will my deduction be the full 5400 because its under 7000 or 5400*80%?

thank you in advance

Tax-deductable items

  Written by Evan   Posted 14 October 2015

I have recently starting working from home as a free-lance food journalist. I had to purchase office and kitchen equipment to use to do my job. How do I claim these as expenses? Do I claim the full amounts (If the items cost less than R7000 each) under deductions/depreciation? Or must I use the calculator to work out the percentage and then deduct that amount each year?

Calculation of travelling & depreciation

  Written by Marc   Posted 14 October 2015

Commission earner - Please inform me how to calculate the following:
# travel expenses with a log book
# without a log book - expenses incurred are as follows: fuel, toll, maintenance, license
# depreciation of a motor vehicle

Tax-deductable items like laptop or car

  Written by Evan   Posted 13 October 2015

If you use items like a laptop or car for work purposes and want to claim depreciation value back from SARS, does the item need to be new or for how many years can you claim the value back?

What are the requirements to claim vehicle depreciation?

  Written by Marc   Posted 6 October 2015

What are the income requirements to claim vehicle depreciation?

If commission forms about 25% of my yearly income, and my vehicle is used extensively to travel between clients (core part of the job), can I claim depreciation of my vehicle against my income?

I don't receive any travel allowance or fuel etc. I keep a logbook and can prove travel % to work/personal. Thanks.

Will I eventually get the money owing to me or will there be another problem

  Written by Marc   Posted 6 October 2015

I have money due to me by SARS. After phoning and requesting why my money was not paid to me I had to go in with 3 month bank statements, certified copy of my id and proof of residence. After still not getting the money due to me I was told to email SARS stating I was not working 2008 and 2009. After doing so I received a call saying I now need an affidavit stating I wasn't working those years. I now have to go back and sit in those queues. The funny thing is the last 3 years I owed them money t...

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Battling to get 2008 IRP5 certificate from ex-employer.

  Written by Marc   Posted 1 October 2015

I am battling to get my IRP5 certificate for 2008 from an ex-employer and SARS is asking for it. At the time I did not submit the tax return because I recall that in that particular year if you earned under a certain annual income, you did not have to submit and therefore I did not. How can I remedy the situation? I have called SARS SARS eFiling help desk and we tried to see if the information would populate on SARS eFiling but it did not.

What value to use in wear and tear calculation - vehicle

  Written by Marc   Posted 1 October 2015

What to include in the price when calculating wear and tear on a company vehicle? Service plan, window break-in protection, VAT, Finance initiation charge, interest?

How do I submit 2007 return without documents?

  Written by Marc   Posted 30 September 2015

SARS is requesting that my husband submit a 2007 tax return. However, he was only working certain times during that tax period (as a freelance contractor) and has no IRP5. He contacted the company he worked for as well, and they have no record of a IRP5 as well. What do you advise him to do now if he has no documents for that tax period? He may be able to get a record of his retirement annuity contributions, but that is all.

Car Deductions on Commission

  Written by Marc   Posted 29 September 2015

Hi Tim, I am a Commission earner and I claim back on my vehicle usage on depreciation and logbook. When I claim back on my car usage, I keep a logbook as well. But my question is, can I claim back on a paid up vehicle? or do I have to still be paying monthly towards finance. Does the finance amount help with increase my tax return from SARS. Eg if im paying R2500 or R2000. Which will yield a higher tax return?

Depreciation for Commission Earner

  Written by Marc   Posted 29 September 2015

Hi TaxTim, I have a lot of questions lined up. I hope its ok. The first one. I am a commission earner and claim back usage of my vehicle for business use. 75%
when calculation deprection over the 5 year straight line method. When does this begin? when I took ownership of the vehicle? or when the vehicle was registered?
2. I bought a vehicle in 2011 and only starting working on commission in 2013. When does my depreciation stop on this vehicle? 2016? or 2018?

VAT on new vehicle for commission earner

  Written by Marc   Posted 29 September 2015

As a Commission earner and using my vehicle for business purposes. Can I claim the VAT back on purchasing a new vehicle?
also what can I claim on the interest portion?

Can a sales representative claim on car installments?

  Written by Marc   Posted 28 September 2015

I just started a new position as a sales representative, and the car I am currently using is quiet old. As I will be travelling a lot to see clients I would like to buy a new reliable car. Would I be able to make a claim on the monthly installments for this new car, as it will be used mainly for work? If so, what percentage can I claim?

Request for Supporting Documents but I have not been employed for 3 years

  Written by Marc   Posted 27 September 2015

SARS is asking for supporting documents related to my tax return but I have been unemployed and living abroad for three years! I don't have any of the documents they are requesting. I still pay provisional tax and submit that tax return dutifully. I read that I must swear an affidavit at a police station but I am currently not in the country and won't be back for several months - they need these supporting documents in 21 days. What must I do? (I did email them, asking them what to do, but they ...

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My total taxable return is higher than normal, am I being punished for bonuses received this year?

  Written by Marc   Posted 25 September 2015

Hi Tim, I have recently completed my tax return. I received a first assessment that said I owed SARS 7630 but I was selected for verification. After the verification process, I received another assessment that reflected R0 amount. But it appears I still owe the initial 7630. Firstly, I don't understand the different conclusions reached in the two assessments and why the first one appears to hold still. Second, my total taxable income for the year being assessed is unusual in the sense that it in...

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SARS want a return from more than 5 years ago

  Written by Marc   Posted 23 September 2015

SARS want me to submit a tax return from 2008/9 but the accounts for the company can't seem to find the IRP5. What are my options?

My employer for 2012 is deceased and the company has shut down

  Written by Marc   Posted 22 September 2015

I have submitted my tax return, but they need me IRP5 for 2011 and 2012. My employer for 2012 is deceased and the company has shut down. We have never received our IRP5 from them

so now I cannot get my refund. What can I do?

Why is depreciation and goodwill amortization added back to Tax Computation.

  Written by Marc   Posted 20 September 2015

Please can you help me understand why is depreciation and goodwill amortization added back to my income tax calculation?
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