Car allowance depreciation efiling

[Lord Anubis]

Hi

Does anyone grasp how to input depreciation of a car when you fill in your car allowance on efiling. I always just enter the business km's, fuel and maintenance cost but don't know if and where you can get any relief for depreciation on the form? Any tips? The car is registered in my name and I get an allowance.

Thx

 

[PallBearer]

you cant.
they use a calculation to determine you pay-back. Depends on acurate log book or thumb suck. Log book, you can claim for fuel and maintenance, but otherwise it is based on a cost/km. Plus they take the year of purchase into effect as well.

 

[Lord Anubis]

Dammmit..was looking for a loophole, but thx

 

[Celine]

depreciation is only used if you are leasing a vehicle. that is a whole different calculation.

 

[Lord Anubis]

Ok, I get that but what is the point of the big "fixed cost" value then in the tables in the SARS logbook. They have values for fuel, maintenance per km and then an annual "fixed cost" amount. Is that for leases? Does that get placed somewhere on the tax form??

 

[Celine]

i haven't seen the SARS logbook so i cannot answer that your question regarding the "fuel cost" value in the SARS logbook.
what i can tell you is that if you look at the tables issued to the taxpayers you will find the calculations for the travel claim. there it tells you the "value" of the vehicle, the "fuel cost" and the "maintenance cost" allowable for doing the calculation purposes. this is if you are wanting to calculate what portion of your travel allowance will be given on the assessment.

http://www.pkf.co.za/publications/pdf/Budget 09-10 PKF.pdf

scroll down to the "deductions - travel expenses" for an idea on the travel claim on the above.