Car Deductions on Commission

Hi Tim, I am a Commission earner and I claim back on my vehicle usage on depreciation and logbook. When I claim back on my car usage, I keep a logbook as well. But my question is, can I claim back on a paid up vehicle? or do I have to still be paying monthly towards finance. Does the finance amount help with increase my tax return from SARS. Eg if im paying R2500 or R2000. Which will yield a higher tax return?

How old is your car?

paid up vehicle. bought in 2011. became a commission earner in 2013.

new finance amount question . car bought in 2015. 2nd hand.Eg if im paying R2500 or R2000 . Which will yield a higher tax return?

You would only be able to deduct the interest on the repayments and then depreciate the value of the car.

Lovely. Just to make sure now. If my repayment if R4000 or R2000. The only difference will be interest. Other than that, my tax return should be the same ?

The repayments will not make a difference unless you are actually renting the car or via an operating lease.