Car payment deduction

James says:
14 June 2015 at 23:43

On the brown form, where do I deduct the cost of a car over three years? I have travel allowance and purchased a car but not sure where to deduct with Tax Tim

This entry was posted in Tax Q&A and tagged , , , . Bookmark the permalink.

TaxTim TaxTim says:
15 June 2015 at 14:02

The brown form is the most basic tax return. It is for individuals with a basic salary structure and no other additional income, or allowances except from employment. If you receive a car allowance and you wish to claim agaist it, you should fill in a blue form. With TaxTim, it is easy to claim your expenses once you have changed your setup to a BLUE form: As you continue your conversation with Tim, you will reach a section called Motor vehicle expenses. This is where Tim will prompt the enter of all the different types of motor vehicle costs which may be claimed against a motor vehicle allowance or vehicle running expense allowances. If the section called motor vehicle expenses do not come up in your questions, please click on the SETUP button under Tim's picture. There are various schedules from the tax return to choose to complete and insert in the final tax return. Please note there are more than one page to choose from, and the second page will show the schedule which relates to motor vehicle expenses. Click YES. Then click to continue/start the conversation with Tim. The section selected for motor vehicle expenses will now show in the questions.

Get Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.