Do you receive a travel allowance? Do you keep a logbook?
Patriciasays: 6 April 2016 at 12:29
No I don't receive a travelling allowance it's a claim against commission income. I want to know whether you can claim both the finance charges as well as depreciation and I also want to know the calculation
TaxTimsays: 6 April 2016 at 13:36
As long as the commission makes up more than 50% of your total earnings, then yes you can claim all your travel expenses (including finance charges, depreciation, fuel, etc) You need to apportion your claim so that it relates to business only. You would need to keep a logbook where you record your business kms travelled in order to justify the business % claimed. You would work it out by taking the business kms travelled as a percentage of your total kms travelled.
Get SARS Tax Dates and Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.