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Motor vehicle expenses in Schedule 19

Posted 16 June 2016 under Tax Q&A
Karen says:
16 June 2016 at 17:32

Schedule 19's Moter Vehicle exp-When the system has done the calculation for the amount to be claimed in X, I get a different amount that is carried forward on the actual schedule 3 and that amount agrees again with the bottom amount in schedule 19 where it says Total on the right hand side-bottom. Where does that amount comes from-as it does not agree with the X total on the same schedule (19).

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TaxTim TaxTim says:
16 June 2016 at 17:36

The amount in X will not be the expenses you are allowed to claim. This is only the total expenses. The total should be multiplied with the business km, which is Z divided by total km in Y then you get the amount which may be claimed.

This amount is in the line which says the formula.

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