Tax Q&A — depreciation-wear-and-tear

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depreciation-wear-and-tear

Medical aid premiums deducted for a sole proprietorship through income statement

If I am a sole proprietor can I expense my monthly medical aid premium in full through the income statement? Unfortunately, this is not regarded by SARS as

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Travel deduction for an on older car

I'm a commission earner and I can claim travel expenses. When I complete TaxTim 'Travel Deduction Optimiser' it will only let me choose the date of the purchas

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Vacation Home - What do I submit/declare in my Personal Tax Return?

I bought a house December 2023, which are rented out as a vacation home. This is my first house that I bought and do not know what I need to submit/declare in

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Cannot access refund due to a special stopper

SARS owes me a refund but according to the call centre they placed a stopper on my tax account and now need to see proof of the payment I made that caused the

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Depreciation on furniture bought for rental property

I bought furniture for R 172 000 back in 2018 for my rental property. This was bought through the developer as part of a rental pool offering. Rental pool con

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Will I get a tax refund if I accept the SARS auto-assessment?

My auto-assessment shows that I am due a tax refund. Can this be correct? Do you think I will receive the refund if I accept it, or should I rather reject it a

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What must I do with the auto-assessment from SARS?

I received an SMS from SARS which says something about an auto-assessment. When I login to eFiling I see there is an option to accept or edit it. Are there any

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Why am I getting auto-assessed? Where is my tax return?

I received an auto-assessment from SARS but I am confused what this means. Why have I been selected by SARS and how did SARS get my data? Can I still submit a

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Can a sole proprietor claim for vehicle maintenance?

Can a sole proprietor (extra income, working from home) claim for vehicle maintenance (I do most maintenance myself, but have invoices for the parts) and insur

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I don't know what is s12e, can you help please?

I don't know what is s12eThis query relates to question 4862 "Please enter the S12E accelerated depreciation allowance which the company can claim. Use our han

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SARS asked for calculation for depreciation on laptop

I completed my tax return through TaxTim. SARS asked me now to show them how we calculated depreciation on the laptop I use for work. Can you help me with this

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Car vs car allowance tax

From a tax perspective which is more beneficial to an employee: a car allowance or a company provided vehicle? What would the impact be on either if the employ

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Tax deduction - Asset write-off for small items

Is it true that the acquisition of "small" items at a cost of less than R 7000 per item may be written off during the year of acquisition? I bought a laptop for

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Can I claim against the use of my vehicle if the only code on my IRP5 is 3703?

I have used my vehicle for official travel - there is only code 3703 on my IRP5. Can I claim travel expenses in my return? This is a reimbursive (tax-free) all

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What are cost of sales in a consulting business

What would cost of sales be in a consulting business - would my time be the cost? Would it be paper, laptop etc? This query relates to question 4216 "Please en

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2 IRP5s and commission

Before paying the fee I just want to make sure you'll be able to help me. From March to July. I earned a normal salary but from August I earn a basic and comm

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Depreciation on a cellphone

I have a pay as you go cellphone that I bought cash. Thus I unfortunately do not have monthly statements to determine an exact break between business and pers

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Solar wear and tear

What are the wear and tear rates for solar equipment (renewable energy)? Kindly refer to our How to calculate Wear and Tear

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Depreciation of on second hand assets

I'm working for a new company that started last year January (2016). All of the computers and furniture was inherited from the previous company (Re-branded th

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What type of tax category do I fall into?

I have one client in the US, I use all my own equipment and work from home. What type of taxes should I be filing? I am based in South Africa and bring funds

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Minimizing tax liability

At the end of the current tax year my taxable income will exceed R1.5 million largely due to income from an employee share option scheme. My income comprises

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How can I depreciate my small business equipment if I dont have invoices?

I have a mobile phone; laptop; tablet and home office furniture which I use for my small business. I bought them four years ago, but I've never depreciated th

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Registering as a Provisional Tax Payer?

I had freelance jobs and although I don't own myown business/am not registered as a business. All but one of the freelancejobs were taxed. Should I register a

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A notice of objection

SARS didn't accept my log books, my 2015 tax return, there's zero KMs for business use. I now need to object and they require proof of ownership- I have docum

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Is occupation rent an allowable deduction against rental income?

Is occupational rent paid to a developer, of a new-build property, an allowable expense to deduct from taxable rental income? The property in question was re