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Allocation of Small Asset write off on ITR14

Posted 26 January 2015

ITR14: Would small assets (below R7000) that were expensed during the year, be reflected as depreciation (under Expense Items and Adjustments: Added back) and under Adjustments: Allowable as Wear and Tear: s11(e) on the ITR14?

TaxTim Marc TaxTim Marc said:
27 January 2015 at 11:00

If the item is less than R7000 then yes you can write this off in the first year and would be reflected on this space in the return.

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