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Depreciation for SARS.



Christo says:
24 August 2015 at 16:43

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

TaxTim TaxTim says:
24 August 2015 at 17:48

You need to provide the invoice for the asset purchase. This will reflect the purchase price and date of purchase which can back-up the wear and tear you claimed. If you apportioned the wear and tear allowance between personal and business, then you need to provide them with some support/calculation justifying the split. e.g.. if you claimed 50% wear and tear on a cell phone for business, you could show them cell phone bills analysed between personal and business with business calls making up 50% of the bill.

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