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How is vehicle capital payback calculated?

Posted 25 June 2015 under Tax Questions

Dugald says:
11 June 2015 at 12:51

If a vehicle is bought when having a vehicle allowance, how much can you claim for the capital

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TaxTimTaxTim says:
11 June 2015 at 12:59

You are referring to wear and tear allowance, which is a third of the cost of the vehicle, incl VAT, for 3 years. So you can claim the capital allowance for the first 3 years from purchasing the vehicle. This claim is made under the Motor vehicle Expenses section of your taxTim return, you only input the cost and VAT and it will calculate it automatically, according to your business km travelled in the year.


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