Wear and tear calculation for the 2015 tax year for a self employed individual
By Marc Sevitz · Updated
With respect to self-employed individuals for the 2015 tax year... What is the write off period for a vehicle used for business travel?
Is the cost of the vehicle divided by 4 or 7 years? I'm trying to calculate the wear and tear amount which I can include for the calculation of actual costs. Thanks!
Is the cost of the vehicle divided by 4 or 7 years? I'm trying to calculate the wear and tear amount which I can include for the calculation of actual costs. Thanks!
Please make use of our Wear and Tear Calculator to work out the wear and tear.
The write-off is 5 years for passenger vehicles. Remember to pro-rata your calculation between business and personal use.
The write-off is 5 years for passenger vehicles. Remember to pro-rata your calculation between business and personal use.
Many thanks!!
Only a pleasure!