Description
Alltaxpayerswhoreceiveatravelallowanceareentitledtoclaimadeductionfrom SARS, should they be using their own private vehicle for business use. Itisessential to have certain information to be able to claim any deductions.? A logbook is useful to keep track of odometer readings and total kilometres travelled foreachtaxyear.Thereare2waysinwhichtoclaim:Usingdeemingprovisions,the first18000km are considered private use and anything after that may be claimed up toalimit of 14 000km.? With a logbook, accurate calculations of personal andbusiness usagecanbemadeandwiththesefiguresathand, thereisnolimittotheclaimprovided youcanjustify itwithyourrecords. Logbooksshouldberetainedforaminimum of 3 years should SARS require you to submit them for verification. Forfurther clarification consult the SARSoffice.