On the 31st January 2013, a company purchased computer equipment R34,750. This equipment was stolen on the 1st October 2014 and Insurance proceeds of R14,500 were received. What would the tax deduction be?
You need to apportion the wear and tear (also called Depreciation) and claim up until the date the equipment was stolen (i.e for the 2015 Tax Return, you can claim wear and tear from 1 March 2014 - 30 September 2014). You cannot claim for the period it is not in your possession.
If you have bought a new computer, you can claim wear and tear based on it's replacement cost.