Can I deduct car finance payments for tax purposes against a travel allowance? By Marc Sevitz · Updated 5 July 2013I do not lease a car, but I receive a car allowance. Can I deduct my car finance payments or the interest? TaxTim Marc said:8 July 2013 at 13:24Yes you can, on the ITR12 tax return there will be place to do this. You must keep a logbook however in order to enter this section.Salary / IRP5Independent ContractorDeductionsCommissionRental IncomePenaltiesTravel AllowanceAudit / Verification
I do not lease a car, but I receive a car allowance. Can I deduct my car finance payments or the interest? TaxTim Marc said:8 July 2013 at 13:24Yes you can, on the ITR12 tax return there will be place to do this. You must keep a logbook however in order to enter this section.
