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Fringe benefits for sale proprietors?

Posted 9 June 2016 under Tax Questions



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Zaihda says:
7 June 2016 at 11:00

Does a Sole trader who uses his vehicle for personal and business use have to pay a fringe benefit tax himself as he is not classified as an employee.

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TaxTimTaxTim says:
7 June 2016 at 21:46

No, he would not have to pay fringe benefit tax. This would only be payable on an employer provided vehicle, which is not applicable for a sole proprietor.


Zaihda says:
8 June 2016 at 9:19

Just wanted to inquire by yourself if it is possible to have any supporting documents in this regard that
is applicable to SARS/tax guidelines as I require documented notes etc.
If there is any fee involved, kindly advise.


TaxTimTaxTim says:
9 June 2016 at 8:18

Bellow is an extract from the SARS Guide for employers in respect of Fringe Benefits Tax:

"With effect from 01 March 2014 a taxable fringe benefit may arise where the employee acquires an asset from the employer at less than the market value."

By definition, fringe benefits tax only applies to employee (and not someone working as a sole proprietor).


Zaihda says:
9 June 2016 at 9:55

Thank you so much!!!!!!!!


TaxTimTaxTim says:
9 June 2016 at 11:29

Only a pleasure!


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