I bought a 2002 model car which is still in good condition, in June of last year for a financed amount of R109,990. 00 This vehicle is used on a 50% work and 50% private basis. I do not receive a car allowance and this vehicle is paid out of my own pocket. Is it possible to claim depreciation/wear and tear on this vehicle from SARS?
What work do you do that you use your vehicle for business? Does you employer agree to this?
Reniersays: 7 July 2015 at 14:03
I work inside a petrochemical factory (Sasol) and use my car to drive around inside the factory and my employer agrees with this. I receive a reimbursive travel claim (non-taxable) for my km's every month.
TaxTimsays: 7 July 2015 at 16:44
If you receive a reimburse travel claim then unfortunately you cannot claim depreciation on your vehicle, the reimbursive amount takes that into account.
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