With
effect from 1st March 2010, it is a SARS requirement that everyone
who receives a car/travel allowance, complete a daily logbook
to support their Tax Return.
Print the
Logbook and attach to a clipboard for use in your vehicle·
Write the date in the applicable column (you may record many entries
for one date if required)
Record the Opening Balance (this is a once-off requirement as
the programme shall carry forward all balances thereafter)·
Record the closing odometer reading after each trip in the relevant
column (if the trip was business or private, record the odometer
reading in the relevant column)· Only record the destination
if the trip was for business purposes (the formulae shall record
all private mileage)· Capture the details on a weekly basis
on the spreadsheet (do not capture in any cells demarcated in
yellow) The rest of the file is formulae driven and thus no calculations
are required on your handwritten sheet in your vehicle.
Members:
Kim
Crawford-Morrison - CIS, VAT, Strategic Taxation I Peter Crawford-Morrison
- B.Com, Post Grad Adv. Taxation, SAITP, SAIBA I Master Tax Practitioner