How can Little LogBook save you money?
Tax Benefits Table – 2011/12
| Total annual km |
10 000 | 15 000 | 20 000 | 25 000 | 30 000 | 35 000 | 40 000 | 45 000 |
| Business km (illustrative) | 8 000 | 12 000 | 16 000 | 20 000 | 24 000 km | 28 000 | 32 000 | 36 000 |
| Private km (illustrative) | 2 000 | 3 000 | 4 000 | 5 000 | 6 000 | 7 000 | 8 000 | 9 000 |
| Vehicle value (incl VAT) |
Tax Benefits | |||||||
| R0 R60 000 |
R22 874 | R26 514 | R30 154 | R33 794 | R37 434 | R41 074 | R44 714 | R48 354 |
| R60 001 R120 000 |
R38 757 | R42 645 | R46 533 | R50 421 | R54 309 | R58 197 | R62 085 | R65 973 |
| R120 001 R180 000 |
R50 331 | R54 459 | R58 587 | R62 715 | R66 843 | R70 971 | R75 099 | R84 487 |
| R180 001 R240 000 |
R62 168 | R66 676 | R71 184 | R75 692 | R80 200 | R84 708 | R89 216 | R100 368 |
| R240 001 R300 000 |
R73 884 | R79 152 | R88 420 | R89 688 | R94 956 | R100 224 | R105 492 | R110 760 |
[figures have been rounded off to the nearest Rand]
HOW TO USE THIS TABLE
If you drive a vehicle with a value of between R180k and R240k and drive approximately 24 000 business km's a year, your taxable annual income will be reduced by up to R80k — if you can validate your claim with a SARS-compliant logbook. At a taxation rate of 30%, this may result in an amount of around R28k being refunded by SARS.
Please consult your tax adivsor to ensure optimal benefits applicable to your personal remuneration structure.
For more detail on SARS requirements, visit the SARS website.