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Messenger said: 6 October 2015 at 13:51 What are the income requirements to claim vehicle depreciation? If commission forms about 25% of my yearly income, and my vehicle is used extensively to travel between clients (core part of the job), can I claim depreciation of my vehicle against my income? I don't receive any travel allowance or fuel etc. I keep a logbook and can prove travel % to work/personal. Thanks. |
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TaxTim Marc said: 6 October 2015 at 15:32 If you can show in your contract of employment that you are expected to use your own car for business purposes or have a letter from your employer stating this, then you can depreciate the car over 5 years and apportion for the business use and claim that as a deduction. Please also make use of our Wear and Tear Calculator Please register for TaxTim and let us assist you to complete and submit your Tax Return to SARS. |
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Messenger said: 6 October 2015 at 15:53 Thank you! Can you also claim for travel expenses and vehicle maintenance in this case? |
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TaxTim Marc said: 6 October 2015 at 22:48 You can claim the travel expenses and maintenance costs against the commission, provided you apportion the expenses based on business usage only. |
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