Schedule of values for travelling allowances
Red denotes recent changes.
|
Value of the vehicle (including VAT) |
Fixed cost |
Fuel cost |
Maintenance cost |
|
|---|---|---|---|---|
|
|
|
|
||
|
R |
R |
c |
c |
|
|
0 - 40 000 |
14 672 |
58.6 |
21.7 |
|
|
40 001 - 80 000 |
29 106 |
58.6 |
21.7 |
|
|
80 001 - 120 000 |
39 928 |
62.5 |
24.2 |
|
|
120 001 - 160 000 |
50 749 |
68.6 |
28.0 |
|
|
160 001 - 200 000 |
63 424 |
68.8 |
41.1 |
|
|
200 001 - 240 000 |
76 041 |
81.5 |
46.4 |
|
|
240 001 - 280 000 |
86 211 |
81.5 |
46.4 |
|
|
280 001 - 320 000 |
96 260 |
85.7 |
49.4 |
|
|
320 001 - 360 000 |
106 367 |
94.6 |
56.2 |
|
|
360 001 - 400 000 |
116 012 |
110.3 |
75.2 |
|
|
exceeding 400 000 |
116 012 |
110.3 |
75.2 |
Source: SARS
Note: The fixed cost must be reduced on a pro-rata basis if the vehicle is used for business purposes for less than a full year.
Of the actual distance travelled during a tax year, in the absence of a log book, it is deemed that the first
18 000 kilometres are travelled for private purposes and the balance, but not exceeding 14 000 kilometres, is travelled for business purposes.
From 1 March 2006, 60% of the travel allowance will be subject to PAYE (pay as you earn).
Alternatively:
- Where the distance travelled for business purposes does not exceed 8 000 kilometres per annum, no tax is payable on an allowance paid by an employer to an employee, up to the rate of 292 cents per kilometre regardless of the value of the vehicle.
- This alternative is not available if other compensation in the form of an allowance or reimbursement is received from the employer in respect of the vehicle.
Information based on legislation as at 11 February 2009.
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Vehicle travel logbook
To claim a tax deduction you will be required to maintain a logbook to justify business travel. Download the Grant Thornton vehicle travel logbook here.