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Depreciation / Wear and Tear Posts in Tax Q&A

Depreciation / Wear and Tear Related Posts - Page 11



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Use of employer Owned cellphone for fringe benefit purposes?

Posted 5 September 2014

We have entered into 20 cellphone contracts with a service provider this month. We will be giving our staff members employer owned handsets to use for work purposes ie business calls, work emails. These will come with R100 airtime, 300MB of data, 25 sms per month. We will be paying R280 per phone pm.

Please advise on whether this fringe benefit is fully taxable. Someone from SARS just told me that it is but I don't believe him.

Statement of account says Yes for audit

Posted 1 September 2014

My Statement of account says I'm being audited. I have already submitted support documents for depreciation a day after my return. A week later I received my statement of account and it says that I'll be refunded, but also says yes under audit and verification. What happens from here on?

What and how much can I claim for on my own car expenses when the car is used for business

Posted 27 August 2014

Hi Tax TimI get paid a basic and commission each quarter of the year. I pay for my own petrol and car expenses and I am looking to claim all of this back from SARS at the end of the year. I have been keeping a log book and I would liek to know the percentage of my expenses that I cna claim back if I rarely use my car for private use. What percentage will I be able to claim back from my business expenses on my car. Can I also claim for my cars depreciation? And again what is the percentage for th...

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Which motor vehicle expenses to claim through company versus personally?

Posted 25 August 2014

I am the sole director of a company. I travel extensively for business using my personal vehicle. My question is do I deduct vehicle expenses such as petrol, insurance, services etc.. through the company, or do I rather take these deductions into account in submitting my personal tax return?

Can we claim if we pay for our uniforms?

Posted 18 August 2014

We are wearing uniforms at the medical practice where I work and we are spending money on this monthly can we claim from SARS for this?

How to calculate vehicle depreciation and home office space for tax deductions?

Posted 6 August 2014

how to calculate vehicle depreciation and home office space

As a salaried employee can I claim my cellphone expenditure as I only get a R500 allowance?

Posted 6 August 2014

As a salaried employee can I claim my cellphone expenditure as I only get a R500 allowance?

Can I claim VAT on things I bought for personal use?

Posted 31 July 2014

I want to know if an individual not a business can claim back VAT on personal goods bought.

Can I claim deductions for items bought in Feb to start with sole proprietor business in March

Posted 29 July 2014

I started a sole proprietor hairdressing business on 01 March, I started to purchase stock and had some upgrades done to a rental property during Feb. Can I claim a deduction for the chairs and sinks, I purchased as well as the repairs to the deck. I am renting a small property because my home is not large enough for the business

Supplementary Part-time income deductions

Posted 29 July 2014

I work full time as an employee. Part time I do multi-level network marketing. What should I track for tax deductions and how does it fit in with my full time employment. Electronic equipment? Office? Car ? Gifts, product expenses. What is allowed and not allowed.

Claiming a tax benefit for private car use without a car allowance

Posted 22 July 2014

i use my private car daily for business - driving to and from client meetings. I do not receive a formal travel allowance or claim for petrol. Is there a way for me to claim depreciation or a tax benefit when I submit my tax return? if so where on the return do I do this

I would like to know if I can claim for my mobile account?

Posted 19 July 2014

I would like to know if I can claim for my mobile account? I use it for business and personal.

I am a vehicle salesman with my own car, can I claim a years depreciation

Posted 16 July 2014

I am a vehicle sales exec and have my own car.
Can I claim depreciation

What constitutes wear and tear?

Posted 15 July 2014

If you are a salaried employee, what constitutes 'wear and tear' of your personal assets used for work use?

If I receive and make work phone calls on my cell phone (which was received on a cellphone contract), can I claim the value of the cellphone under wear and tear?

If I paid cash for my car and use the car to drive to meetings for work, can I deduct a portion of the car's value under wear and tear?

Depreciation on my ITR12?

Posted 10 July 2014

I bought a laptop and tablet that I use for work that cost R20 000. How do I calculate the depreciation?

Can a commission earning employee without a travel allowance claim depreciation on a vehicle - 4027

Posted 8 July 2014

I am a commission earning employee without a travel allowance - am I able to claim depreciation on my vehicle due to the fact that I use my vehicle daily for work purposes ( driving to and from clients ) under section 4027 ?

Commission only and use my car for work, what are the income tax implications?

Posted 7 July 2014

I earn commission only and I use my car to do business, how do I submit my ITR12 return to SARS?

Schedule of depreciation

Posted 7 July 2014

I am a 100% commission earner and was requested by SARS to to forward a schedule of depreciation for my vehicle depreciation claim, I forwarded my calculation formula : purchase price/5 years * 10 months, I only bought the vehicle in May 2013. The schedule was however not accepted due to insufficient info, please advise what other information needs to be on the schedule of depreciation.

Do I need 2 tax numbers 1 for my business and 1 for myself?

Posted 5 July 2014

I am unemployed and would like to start a small business.
I am planing to open a business bank account under (CT Plumbing). Sole Priority.
1.) Do I have to get a new tax number from SARS for this business or can I use my tax number when I was still working for a company?
2.) If so how many tax numbers should I have? for example one for my business and one for me?

Where is the link to do the calculation of depreciation of the lapto, motorcar etc?

Posted 4 July 2014

There is more than one place that you said " use the computation machine worked out" But there is no link. How am I suppose to do it?

Earning a salary and having a sole prop on the side, how does the tax work?

Posted 3 July 2014

I am employed and earn a regular salary from my employer. BUT I also run a small business (just me as Sole Prop) on the side. (I help people with Web development and design work)How does tax work in my case? Do I need to put away a percentage of each transanction and pay it manually each year or how does it work? I don't want to get into any trouble with the tax man :-)

Codes needed for TAX return

Posted 2 July 2014

I need to claim for home office expenses and wear and tear on my own cellphone that I use for work ( I check and I qualify for the home office). Which codes to I use on my return for eFiling?

Why do get audited every year?

Posted 2 July 2014

Why do I get audited and asked for supporting docs every year from SARS?

Logbook for tax purposes, must one be kept?

Posted 2 July 2014

As a commission earner do I have to have a travel logbook?

I work in sales, can I claim for my laptop and tablet which is used for work purposes?

Posted 23 June 2014

I work in sales, can I claim for my laptop and tablet which is used for work purposes?
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Do your
Tax Return in
20 minutes
or less!


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