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Riaan says: 6 April 2022 at 14:50 I completed my tax return through TaxTim. SARS asked me now to show them how we calculated depreciation on the laptop I use for work. Can you help me with this as I don't know what to give them? |
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TaxTim says: 6 April 2022 at 19:34 Does your employer allow you to use your laptop for work? Do you have a letter or is it written in your contract? |
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Riaan says: 6 April 2022 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 for a calculation on how you got to the depreciation value. I have the purchase invoice which was R 8000 and purchased in October 2021. 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. |
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TaxTim says: 7 April 2022 at 14:16 You would need to send them a small excel sheet showing the calculation being the R8000 over 3 years and then how you apportioned it for business use. |
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Riaan says: 7 April 2022 at 17:16 What is the formula for the calculation? |
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TaxTim says: 7 April 2022 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? |
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Riaan says: 7 April 2022 at 10:53 Yes it is used for just business. What is the 5 for the last calculation? |
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TaxTim says: 7 April 2022 at 18:34 You said the asset was used from October 2021 - SARS requires that the depreciation be worked out for the months of use only so this would be 5 months from October until February. Please resend the purchase document of the laptop along with the letter from the company stating that you use the laptop 100% for work purposes when sending the calculation to SARS. |
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