The company car
An employee's favorite perk...
An accountant's little time bomb
Taxing employees on their use of company cars is not as simple as you might think. Travel expense claims and deductions are one of the most common triggers for a SARS
In fact, if you get it wrong you’ll face penalties of up to 200% from SARS
. And to top it off your employees will either pay too much tax or not enough. Either way, the admin to sort it out is just not worth your time.
The good news is that 90+% of the penalties involve only 4 mistakes that you can easily disarm today.
Disarm these 4 ticking time bombs
He didn’t start using the company car until midway through the month
He uses the car more than 80% for business travel
He gets the use of more than one company car
He pays the maintenance, fuel and licensing
costs – instead of the company
These are very common problems. And something you’ll spend hours searching for the answer on the Internet.
Today, you have it in your power to never waste another minute on the Internet trying to disarm these ticking time bombs…
14 Practical examples to make your travel calculations in minutes
Spending time trying to calculate all the variables of company cars vs. travel allowances can be frustrating not to mention complicated.
Well, you don’t have to pull your hair out anymore.
Your guide to taxing company cars and travel allowances
shows you exactly how to calculate the various travel options available to you. With this information at the ready, you’ll never make a wrong decision about company cars and travel allowances again. And the best part is, you’ll save a fortune in taxes that you would’ve had to pay if you didn’t have this information.
Simply use the 14 examples we’ve laid out for you. All you need to do is substitute our figures with yours and voila
, you’ll have your calculations done within minutes.
But if you’re still not sure you have your calculations right, or if you’ve used the right information, I’ve compiled three handy checklists for you.
The only three checklists you’ll ever need when it comes to company cars
Sometimes large amounts of information can be overwhelming especially when all you're trying to do is have all the relevant information you’re looking for, summarised and in one easy-to-find place. I have just the answer for you...
We’ve compiled three handy checklists on the details that MUST
be included in your logbook, the three most common travel allowance errors you must avoid to escape penalties and all the differences between a company car and a travel allowance. You can print these out and keep them on your desk so you don’t have to wade through pages of information.
While going through your checklists you might have a question about company cars or travel allowances. So what now? Do you go back to the internet
to search for the answers? Or call you tax consultant and spend R1
200 to get your answer?
No. You don’t have to do either of these. We’ve answered 10 of the most popular company car and travel allowance questions. Here they are.
Your top ten company car and travel allowance questions answered by leading tax professionals
If you know what your colleagues are asking it’ll save you a lot of money. This is because tax consultants charge anything from R1
200 an hour answer your tax questions.
So having the top ten, most asked, company car and travel allowance questions and answers at your fingertips will save you thousands of unnecessary rands
on consultant fees.
And the best part is, you can refer back to these questions and answers as many times as you like.
This easy to use resource will save you unnecessary time searching for company car and travel allowance information
Tired of spending time flipping through hundreds of pages trying to find the information you're looking for?
That’s a thing of the past too! You see Your guide to taxing company cars and travel allowances
comes as an e-report. Simply open it up and start using it straight away.
No more spending time paging through a book looking for the answers. Simply type in what you're looking for and at the click of a button the results will appear on your screen.
Don’t spend another minute scouring the internet for answers that aren’t there
You no longer need to worry if the route you take is the correct one or the most cost effective one for your business. With Your guide to taxing company cars and travel allowances
you’ll have everything you need to make the best decision for your business thanks to the some of the top tax experts in South Africa.
For only R199 Your guide to taxing company cars and travel allowances
will help you minimise the amount of time you spend going back and forth debating if you should offer your staff a company car or a travel allowance. You’ll have all the answers at the click of a button.
So when you consider how much you’d save if you knew how to legally reduce the amount of tax you’re paying on fringe benefits for each of your employees, you’ll know it’s worth it. Never mind the 200% in penalties you could save because you’ll know how to deduct the right amount of tax.
Get your copy now!
Managing Editor: Your guide to taxing company cars and travel allowance
Did you know that you can shrink the car’s fringe benefit to 3.25% if you bought the car on a maintenance plan?
Secure Order Form
Yes, I want to order Your guide to taxing company cars and travel allowances
e-report so I can take the hassle out of taxing company cars and travel allowances.
My order will be emailed directly to me and I’ll receive:
• My copy of Your guide to taxing company cars and travel allowances
• FREE Subscription to Daily Tax Bulletin
: We give you expert advice from South Africa’s top tax, Vat and accounting experts. Receive concise, practical tips and advice that is easy to understand and will take you just minutes to read.
To get started right now, simply complete the following secure order form... or, if you'd like to request an invoice to pay, order by phone or if you have any questions, please feel free to call one of our customer services representatives at 0861 114 365 quoting CTALP
Copyright © 2017, Fleet Street Publications (Pty) Ltd.
The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. No action or inaction should be taken based solely on the contents of this publication. We do research all our recommendations and articles thoroughly, but we disclaim all liability for any inaccuracies or omissions found in this publication. No part of this publication may be reproduced or transmitted in any form or by means of electronic or mechanical, including recording , photocopying, or via a computerised or electric storage or retrieval system without permission granted in writing from the publishers.