Page 25 - Taxation F6 - Income From Employment

Income from Employment

Allowances

• Travel allowance page 363

• To claim the actual costs for business travel the

following limitations applies:

• For a leased vehicle=total payments must not exceed

fixed costs as per the table for the category of the

vehicle.

• Where the vehicle is owned by the taxpayer the wear

and tear should be determined over a period of 7

years and the cost should be limited to R480 000.

25