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Tax benefit for vehicle purchased on Instalment Sale Agreement

Posted 11 July 2016 under Tax Q&A
Ansie says:
11 July 2016 at 11:07

Good day. I bought a brand new vehicle on 23 November 2015 on a Instalment Sale Agreement. I use my private vehicle for business purposes as well. Is there a tax benefit for me?

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TaxTim TaxTim says:
11 July 2016 at 11:41

If you receive a travel allowance or a vehicle purchase allowance as part of your employment package - yes, you can claim motor vehicle expenses.

Please refer to our article on the subject matter: Claiming motor vehicle expenses

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