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Wear and tear calculation for the 2015 tax year for a self employed individual

Posted 22 October 2015 under Tax Questions



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Newbie says:
20 October 2015 at 11:53

With respect to self-employed individuals for the 2015 tax year... What is the write off period for a vehicle used for business travel?
Is the cost of the vehicle divided by 4 or 7 years? I'm trying to calculate the wear and tear amount which I can include for the calculation of actual costs. Thanks!

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TaxTimTaxTim says:
20 October 2015 at 16:14

Please make use of our Wear and Tear Calculator to work out the wear and tear.

The write-off is 5 years for passenger vehicles. Remember to pro-rata your calculation between business and personal use.


Newbie says:
22 October 2015 at 9:22

Many thanks!!


TaxTimTaxTim says:
22 October 2015 at 15:41

Only a pleasure!


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