Does your employer allow you to use your laptop for work? Do you have a letter or is it written in your contract?
Riaansays: 16 July 2015 at 20:48
Yes my employer does. I am a network engineer and it forms a very important tool for me to do my job. What should I provide SARS? They asked calculation on how you got to the depreciation value. I have the purchase invoice which was R 8000 and purchased in October 2014. According to the calculations when completing TaxTim the amount for depreciation was R 1111.11. I did upload the invoice for SARS but they said I must also provide how we calculated it.
TaxTimsays: 17 July 2015 at 14:16
You would need to send them an small excel sheet showing the calculation being the R8000 over 3 years and then how you apportioned it for business use.
Riaansays: 17 July 2015 at 17:16
What is the formula for the calculation?
TaxTimsays: 19 July 2015 at 10:30
It would be the cost divided by the number of years allowed as a write off for wear and tear.
R8000 / 3 = R2 666.67
then apportioned for business use, and divide by the number of months used:
R2 666.67 x (5 / 12) = R1111.11
Did you only use the computer for business use?
Riaansays: 19 July 2015 at 10:53
Yes it is used for just business. What is the 5 for at the last calculation?
TaxTimsays: 19 July 2015 at 18:34
You said the asset was used from October 2014 - SARS requires that the depreciation be worked out for the months of use only so this would be 5 months from October until February.
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