Barry owns a motor vehicle that cost him R46 500,inclusive of VAT but exclusive of...
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Barry owns a motor vehicle that cost him R46 500,inclusive of VAT but exclusive of any finance charges. He used his motor vehicle for business purposes during the last seven months of the2023 year of assessment and received a travel allowance of R36 000 from his employer for those even months. Barry kept an accurate logbook which shows that he travelled a distance of24 000 km during the seven months of which his business mileage amounted to 13 500 km.
Calculate the taxable amount Barry owns a motor vehicle that cost him R46 500,inclusive of VAT but exclusive of any finance charges.
He used his motor vehicle for business purposes during the last seven months of the2023 year of assessment and received a travel allowance of R36 000 from his employer for those seven months. Barry kept an accurate logbook which shows that he travelled a distance of24 000 km during the seven months of which his business mileage amounted to 13 500 km.
Calculate the taxable amount of the travel allowance.
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