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Tax deductibility of vehicle lease payments for independent contractors

Posted 3 June 2016 under Tax Questions


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Mo says:
2 June 2016 at 22:44

I am an independent contractor. I do not earn any salary. I currently have a vehicle on which I claim a travel deduction. My vehicle requires replacement. I would like to know if I can claim lease payments as a tax deductible expense should I lease a new car. I have not come across any prohibition on the SARS website. This surely is in the production of income as without a car I would not be able to carry out any work at all.

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TaxTimTaxTim says:
3 June 2016 at 15:24

Yes you will be able to claim these, but only the business use portion. Please make use of our Travel Allowance calculator to see which method is better.


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