Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Tax deduction for computer

Posted 29 October 2015 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Sumeya says:
29 October 2015 at 7:58

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?

This entry was posted in Tax Questions and tagged , , . Bookmark the permalink.

TaxTimTaxTim says:
29 October 2015 at 11:55

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.

Please use our Wear and Tear Calculator to ensure you are using the correct write-off period.


Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →