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Depreciation for SARS.

Posted 24 August 2015 under Tax Q&A


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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?

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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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Need help
submitting your
Tax returns?


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!

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