Too small travel allowance - different to actual costs
By Evan Robinson · Updated
I have a R 2 500 travel allowance (R 30 000 a year) provided to me. But for 2015 I calculated my true travel costs (travel allowance) and it should have been R 70 000 a year.
Travel allowance on my IRP5 R 30 000
Travel allowance calculated by SARS tables R 70 000
Can I claim the R 70 000 tax deductible or am I limited to R 30 000 tax deductible?
Travel allowance on my IRP5 R 30 000
Travel allowance calculated by SARS tables R 70 000
Can I claim the R 70 000 tax deductible or am I limited to R 30 000 tax deductible?
No you will be limited to the travel allowance received unfortunately as that was the financial benefit you received.