Where on on the ITR12 do purchases like PC's under R7000 get filled in? And Internet Expenses?
By Marc Sevitz · Updated
And are 3G or ADSL Internet expenses added to telephone costs and put under the Telephone heading?
Those would go under depreciation/wear and tear.
Telephone costs yes. Remember you need to apportion all costs for business use only.
Telephone costs yes. Remember you need to apportion all costs for business use only.
How could they go go under depreciation/wear and tear if they are under R7000, from what I understand they get put under capital expenditure written off?
So to confirm 3G Internet used in a laptop on the road and ADSL Internet both used for business use go under telephone cost?
So to confirm 3G Internet used in a laptop on the road and ADSL Internet both used for business use go under telephone cost?
Capital expenditure is different to wear and tear, assets used for manufacturing go under capital allowances and equipment like laptops under wear and tear.
Yes to the second question.
Yes to the second question.
Thanks a lot for the answers!
So to confirm the R1400 for the new Hard Drive for my business computer and R4500 for a Laptop, go under wear and tear and because each item is under R7000 they get depreciated for the full value in the tax year they are purchased.
So to confirm the R1400 for the new Hard Drive for my business computer and R4500 for a Laptop, go under wear and tear and because each item is under R7000 they get depreciated for the full value in the tax year they are purchased.
Yes, that is correct. The wear and tear allowance for small items is per item if they can be separately identified and would go under the depreciation block on the return.