Dear Tax Tim. I currently earn a vehicle allowance from my company which I claim a rebate back from SARS according to the business milage that I have done. Is it possible to claim back a rebate for depreciation on my vehicle as well?
Please make use of our Travel Allowance calculator for optimum method of claiming your best travel deduction.
Brandonsays: 29 July 2015 at 19:22
Thank you. But the calculator only takes into consideration the business mileage done. How do we take into consideration the depreciation on the vehicle?
TaxTimsays: 29 July 2015 at 20:51
There are two methods offered in the calculator, you are asked the value of the car in the beginning and then asked if you made use of actual costs. We have programmed it to show you the best methods including the depreciation. If you wish to claim the depreciation and see which method is better then click yes to the actual costs and it will show you both methods and which one is better.
Vehicles can be depreciated over 7 years for the purposes of deducting against a travel allowance.
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