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Depreciation / Wear and Tear Posts in Tax Q&A

Depreciation / Wear and Tear Related Posts - Page 7



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Are home office refurbishments tax deductible?

Posted 28 August 2015

I am a sole proprietor of a business and work from a study at home. If I refurbish my study (e. G. Put in fixed cupboards and shelving) with the express purpose of improving my business workspace, is the cost of the refurbishment tax deductible? If so, under what item do I place it? Similarly, if I buy items for my home office (e. G. Office chair), are those tax deductible?

I filed my return for 2012 since it was overdue now SARS is asking for supporting document and I do

Posted 28 August 2015

I filed my tax return for 2012 since it was overdue now SARS is asking for supporting document and I do not have my IRP5 with me.

Earned R43000 comm earner year ended feb 2015, travel & depreciation R17000 will I get tax refund

Posted 28 August 2015

Earned R43000 commission only year ended feb 2015, have travel expenditure of R13800 with log book and depreciation of R4200 on my vehicle, will I get tax refund?

Taxable Income

Posted 28 August 2015

Please enter your Taxable Income. This is your Gross Income minus the business-related expenses from business or rental income. Also subtract any contributions to a pension fund or retirement annuity fund, donations, depreciation and other travel allowance deduction and any exempt income. Does this mean petrol, stationery, ink rent etc.?

Company changed trading name and I cannot get my 2011 IRP5 from new company

Posted 28 August 2015

Hi, I submitted my tax return this year 2015 and they owe me a refund, only to be asked for 2011 tax returns and 2013, 2014 when I filed I was not asked for 2011 tax return and I was paid refunds, when I check 2011 tax return on SARS eFiling it is black and I refreshed it still black. October 2011 I resigned, and joined another company that is the year my tax return is blank. And the company I resigned from I now merged with the other company and changed the trading name. When I contact them for...

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Freelancer with multiple sources of income, what sort of tax do I register for and how do I sumbit?

Posted 27 August 2015

I am a freelancer working in the film industry. As such I have have periods of consistent work with a production company for a number of months, but also gain smaller amounts of income from private work on the side. Giving short courses and doing small corporate or private videos and edits. I am not registred as company and do all work as a private individual. How do I divide up my income, to sumbit for my tax return?
And what type of tax-payer would I register as?

This is my fir...

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No travel allowance tax claim help

Posted 25 August 2015

I am using my vehicle for business purposes and I kept a Skytrax logbook. I traveled about 40% of my KM's for business. I do not have a travel allowance and my commission was less than 50% of my income. Can I still claim my travel expenses? My Employer is not willing to amend the IRP5 to include a travel allowance. I still feel that I am out of pocket and I was not advised by my Employer when I started that I should structure my salary with a travel allowance. Please advise if there is a way...

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Travel expenses claim?

Posted 25 August 2015

I have done freelance consultancy work for 2 companies over a period of 3 months. The other months of the tax year I have been in fixed employment at a companies deducting PAYE with no travel allowance. Have not kept details of fuel and vehicle expenses. Can I claim a travelling expense for the 3 months based on kilometers driven ito the fixed cost and variable cost travel allowance method? If not what method should I use for travel expenses as a deduction against the production of the consultan...

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Depreciation for SARS.

Posted 24 August 2015

I have used TaxTim to calculate my depreciation. SARS is now looking for supporting documentation. What do I need to submit?

Dont have IRP5 for 2007 and SARS is request me to submit

Posted 18 August 2015

SARS is requesting a tax return for 2007 but I dont have a IRP5 for that year. My previous company never kept records. I have been filing since 2008 to date and have never been asked before to submit 2007. How do I proceed now?

Equipment depreciation

Posted 17 August 2015

I am a self employed design consultant. I purchased a laptop I use for work late 2012, and have been depreciating it for the last 2 tax years (2013, 2014). My office was recently broken into and the laptop was stolen. Am I able to still claim depreciation on it (2015), even though it is no longer in my possession?
With the insurance payout I have replaced the equipment. Am I able to claim the full amount of the new equipment, or only the difference between payout and replacement cost?

I have not proof of income to verify my return for 2010

Posted 14 August 2015

I just found out I need to submit my tax return for 2010. I have submitted it and I am due a refund for 2010. However they are wanting me to verify documents. I have not claimed for any medical expenses, RA's etc. I have never ever received an IRP5 form from my previous employers since I worked there. What documents do I send to SARS, as I do not have any payslips or proof for 5 years ago.

Where do I get 20 years ago my IRP5

Posted 13 August 2015

SARS wants the 1995 1996 1997 IRP5 they say we didn't submit my employer doesn't have them what must I do its 2015 now please help?

Audit because they neglected to inform me about previous tax year

Posted 13 August 2015

I got penalties for 2007 when I submitted my tax return for 2015. The consultant did say that I must complete a form to lift penalty for they neglected to tell me when I was at the offices in 2011. The problem now is that I recieved a sms stating that I am audited for 2007.. If I cant get any original documentation, what can I do? I there any way to lift the audit because they neglected to tell me about 2007?

Support for cell phone depreciation at SARS?

Posted 13 August 2015

What supporting documentation does SARS usually look for when assessing if depreciation/wear and tear on your cell phone is an allowable deduction. Please note that my cellphone is paid via a monthly contract fee. These contracts usually don't stipulate the base price of the phone. Furthermore, what support do you need to give them for the allocation of business use versus private use. I have tried to search and ask what they need as they wanted to verify this deduction, however, I cannot seem t...

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House/car repayment - tax benefits

Posted 12 August 2015

Are there any tax benefits when you are paying off a bond, car or any property?
Does that affect the person who is paying the loan or the person receiving payment, or both? As far as disclosing this on the tax return as a deduction or otherwise.

Does a courier service qualify as an independet contractor? What can be deducted from income earned

Posted 30 July 2015

I have a courier service company that is not registered yet. Does this qualify me to be regarded as an independent contractor?

Because my company is not registered, SARS advised that the company's income should be added to my salary income for tax purposes. Are there any deductions from the company that I can deduct when submitting my tax return to SARS?

Vehicle depreciation rebate from SARS

Posted 29 July 2015

Dear Tax Tim. I currently earn a vehicle allowance from my company which I claim a rebate back from SARS according to the business milage that I have done. Is it possible to claim back a rebate for depreciation on my vehicle as well?

Tax return not submitted 2008

Posted 29 July 2015

Hi Tim, I have submitted my tax returns from 2010 to date but did not from 2008 and 2009 as I thought I was below the earning bracket. I called SARS now and I am due for a refund but they want my tax return for 2008 and 2009. How do I go about doing this?

Tax refunds on personal computer equipment used at work

Posted 29 July 2015

Can I claim for use of my personal laptop/computer at work if I use it daily in the office? For work purposes

What's does lease payments actually refer to?

Posted 29 July 2015

Under "travel claim against allowance" Does lease payments refer to the monthly car repayments I make to Wesbank?

3 work related expenses, where do I allocate them and how much?

Posted 28 July 2015

I spent R4 085.53 on vehicle maintenance tyres, 25/08/2014. I spent R25 748.85 on cellular bills, at least 60 to 70 percent of this annual bill was work related (14/15). I spent R5 553.44 on vehicle insurance for the year (14/15).

My question is, where would I associate these expenses to?

Separating IRP5 related sales from income total

Posted 25 July 2015

I run a small business which sells research services. It's a sole prop, but when I'm contracted by university it generates an IRP5. In my income tax return, when it asks, after the question about the value of sales, if there is any income reflected on an IRP5, does that mean I shouldn't include the IRP5 income in my total sales figure? Also, where (and what rate) do I claim insurance for necessary equipment such as my car, computer, and phone?

IRP5 missing for 2007

Posted 24 July 2015

I have been doing SARS eFiling since 2010 (first assessment submitted for 2009). My question is that SARS can not refund the payment due to me for my submitted 2015 assessment as my tax returns for 2007 and 2008 are still outstanding.

The company informed me that no IRP5's for that two years are still available. What do I do now? My income was less than R100 000 a year though - is there any way that I can submit a nil tax return? I can not indicate that I was unemployed for the years...

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Why is my home office selected for verification second year in a row?

Posted 23 July 2015

I work from my home office as a graphic designer. My annual income is under R500 000. This is the second year in a row I've been selected for verification. Any idea why and what does it mean? What should I be doing differently to prevent being flagged? Is it a reflection I'm doing something wrong?
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Submit your
tax return
right here!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started