Blog Q&A Calculators Students Logbook Contact
Earn under R350,000?Click here to see why you still need to file to get your Tax Refund.
CLOSE
Need Help with your 2017 Tax Return?

Get your tax return DONE in 10 minutes or less with TaxTim!

Try TaxTim Now

Bank Account Fees for tax purposes?

Posted 26 August 2015 under Tax Q&A


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started

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!

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Antony says:
25 August 2015 at 22:22

Concerning Bank Charges as a Business Deduction, does the monthly Bank Account Fee count as a Bank Charge or just the Service Fees?

This entry was posted in Tax Q&A and tagged . Bookmark the permalink.

TaxTim TaxTim says:
26 August 2015 at 12:51

They would both count if they relate to the bank account for your business and are therefore incurred in production of your income.

You cannot claim the deduction in full if you have personal expenditure going through the same account though.


Get Tax Deadline Reminders, News and Tips
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started

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!