![]() on the last day of the applicable tax year.įourthly, calculate your total kilometres for the full year (closing kilometres less opening kilometres).įifthly, calculate your total business kilometres for the year (sum of all business kilometres). ![]() Thirdly, record your motor vehicle’s closing odometer reading on the last day of February (28/29) of the next year, i.e. Top Tip: Without a logbook you won’t be able to claim the cost of business travel against your travel allowance. 2014-2015 SARS Logbook for the 1 March 2014 – 28 February 2015 assessment year and tax season starting.It is important to keep receipts and records of the actual expenses for tax purposes and deduct the actual cost. ![]() These expenses may include transportation costs, baggage fees, car rentals, taxis, shuttles, lodging, tips, and fees. If you use your own car or van for such journeys there is the statutory system of tax-free approved mileage allowances for business. Business travel expenses incurred while away from your home and principal place of business are tax deductible.
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