FAQ: What is an employer-provided vehicle?
Some employers provide their employees with the right to use of a company-owned motor vehicle for private purposes (i.e. a company car). Private use of an employer-provided vehicle is a taxable fringe benefit.
FAQ: If I receive a reimbursement travel allowance, can I claim travel expenses on the ITR12 return (using my logbook/actual costs)?
Your employer will declare any travel reimbursements paid to you on your employees’ tax certificate (IRP5) using the relevant code. If you have a taxable travel reimbursement code on your IRP5, you may claim a business travel deduction, provided you have kept the required logbook. If you have a non-taxable travel reimbursement code on your […]
FAQ: If I worked for two Employers during the same tax year and received travel allowances, and used the same vehicle for both employments, how is the ITR12 return created? Will one or two vehicles be used in the calculation?
One vehicle will be used against two allowances. On the ITR12 where the question “How many IRP5/IT3(a)s did you receive?” appears, you must indicate two IRP5/IT3(a)’s. Two codes for 3701 will be populated on the return Under Travel allowances were the question ‘How many vehicles should be used in the calculation?’ appears, indicate one vehicle.
FAQ: Do I need to submit my logbook?
Yes, you need a log book to support your claim. However, you do not need to submit the log book with your ITR12 return. The log book must be maintained and retained with other relevant material for a period of five years from the due date of submission.
FAQ: How does my odometer reading affect my claim for travel expenses?
You should always maintain an opening and closing odometer reading for the year for your travel claim to be considered and maintain a record of the actual business kilometres travelled for each trip. Also, note that the distance travelled between home and work is considered private.
FAQ: Do I need to record the daily odometer readings?
No, SARS does not require the daily odometer readings for opening and closing kilometres. You do need to record the opening and closing kilometres for the year of assessment. In other words, you need to record the opening kilometres on the first day of March and closing kilometres on the last day of February. The […]
FAQ: How do I register on the SARS app or SARS MobiApp?
Download our enhanced SARS MobiApp from the Google Play Store (Android) or App Store (Apple devices) and click the ‘Register’ button.
FAQ: What is meant by a ‘spot rate’?
The term ‘spot rate’ means the appropriate quoted exchange rate at a specific time by any authorised dealer in foreign exchange for the delivery of currency.
FAQ: How will SARS treat cryptocurrencies?
SARS will apply general tax principles and tax the income or capital gains that are received or accrued to the taxpayer.
FAQ: Can I update the SARS eFiling App for free?
No, the service data charges will apply for updates.
