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Leon says: 8 October 2015 at 19:41 Dear TaxTim. I only recently realised that SARS have been capping my yearly travel allowance (code 3701) at R66,000 which is my monthly car allowance x 12. Thanks for your feedback on that. I do however qualify for an allowance of R100,000 per year based on value of the car and log book total vs. Business km's. When doing my onlie eFiling, the system did allow me to reduce 3601 Income and increase 3701 by the same amount that I decreased the income 3601. I am hoping that this will then prevent me from being capped which is unfair/unfortunate on my part. Will it be OK if I alter the figures as proposed. Look forward hearing from you. |
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TaxTim says: 9 October 2015 at 7:08 You cannot do that, you need to keep your IRP5 as it was given to you and is on SARS eFiling unless it is incorrect. The law states that any deduction from your travel claim is limited to the actual travel claim. You cannot alter your salary to adjust for that. |
