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Calculate Wear and Tear / Depreciation using Interpretation Note 47

Calculate Wear and Tear / Depreciation using Interpretation Note 47

Wear and Tear or Depreciation is the decrease in value of an asset. SARS allows you to deduct this decrease each year based on the tables below, which you can then use towards replacing those assets if you wish. For example if your car cost R50,000 in the 2007 tax year, you can depreciate the car by R10,000 each year until 2011 and claim the R10,000 as a deduction, therefore paying less tax!

Note: If you have received a travel allowance or employer-provided vehicle you cannot use this calculator to determine your depreciation. This will be taken into account automatically when you complete the Travel Allowance or Employer-Provided Vehicle section of your tax return.

Use the calculator below to calculate your depreciation:

NOTE: SARS may ask you for proof / documents describing the below

Base cost of the asset (in Rands): R
Date you got it: Month   Year
Tax year:
Usage split: Business %   Personal %   NOTE: SARS might ask how you justify this split
Type of asset: