Travel Log Book

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When May You File A Claim For Travel Expenses?

You can claim a deduction on your yearly income tax return for the use of a private motor vehicle for business purposes if you get a travel allowance from your employer or principle.

  • Very Important – Your IRP5 certificate must contain code 3701.

What Am I Required To Do?

  1. The first day of the tax year, March 1, is the date when you should record the odometer reading on your car.
  2. Keep a logbook all year. It’s worth noting that private travel is not required to be documented.
  3. On February 28th or 29th (last day of the month) of the following year, record your motor car’s final odometer reading.
  4. Add up the total number of kilometers you’ve driven in a year. Take the closing kilometres and deduct the opening kilometres.
  5. Calculate all of your business kilometers for the year to get a total.

Important Note : SARS does not consider travel from your personal residence to your place of work as business kilometers, but considers travel from your personal residence directly to a client as business travel.

What Information Should I Write In My Logbook?

  • Travel date.
  • The distance traveled.
  • Details of your business trip. Where did you begin your journey, where did you go, and what was the purpose of your journey?

How Do I Calculate The Amount That I May Claim?

  • Use the cost scale chart that SARS provides to calculate your claim.
  • Calculate your claim using the cost scale chart provided by SARS. To do so, you’ll need to keep a detailed account of all your spending during the year, as well as a log book.
  • Fuel, oil, maintenance and repairs, automobile license, insurance, wear and tear, and loan or leasing payments are all need to be included in these expenditures.

Example Of The SARS Travel Logbook :

SARS Travel Log Book  |  CFO360 Accountants
SARS Travel Log Book | CFO360 Accountants

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