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

Vehicle Purchased For Business and Personal

Posted 16 October 2015 under Tax Questions


Hi, I'm Tim!
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Nick says:
14 October 2015 at 11:18

I recently purchased a car cash for business and personal use. The amount paid was R103,000. How can I go about claiming a portion thereof as a tax deductible expense if I also use it for my business?

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

TaxTimTaxTim says:
14 October 2015 at 11:39

Do you own the business or are you a salaried employee receiving a travel allowance?


Nick says:
14 October 2015 at 12:08

I own the business


TaxTimTaxTim says:
15 October 2015 at 18:36

How do you pay yourself?


Nick says:
16 October 2015 at 10:35

I am a sole proprietor and pay myself from my business account. Generally, what the business makes, that is what I pay myself.


TaxTimTaxTim says:
16 October 2015 at 18:58

As a sole proprietor you would be able to deduct the use of the car for business purposes in the ratio of business to total use. Did you keep a logbook? If so you would use that ratio to determine the deduction of the vehicle related expenses and the same for the car which you would divide the value by 5 and then use the apportionment as per the logbook.


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 →

Hi, I'm Tim!
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE