Company car fringe benefit.

Craig says:
20 March 2019 at 9:23

I had a fringe benefit of R6799. 72 company car 3. 25% FB. Company cancelled the Fringe Benefit and I bought the car in August. Up to today, company still have R6799. 72 on my payslip as fringe benefit. How will this influence my tax return? How much tax am I paying monthly on the fringe benefit that should have been cancelled in August already. Please note that we have advised payroll department regarding this matter.

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TaxTim TaxTim says:
20 March 2019 at 11:58

You can add the fringe benefit in our SARS income calculator and then complete the tax calculator again without it so that you can workout the amount that you will have to pay.

Herewith the link to the tax calculator: SARS income tax calculator

Also, it is only your payroll will be able to tell you what the following procedure will be. Nonetheless, you need not worry if you are however over taxed you will get the money back once you completed your tax return.

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