HomeHome SearchSearch MenuMenu Our productsOur products

Are those patents, logos and copyrights costing you a fortune? They don't have to

by , 14 July 2014
Every asset your company owns is an investment. They're there to make you money.

Your intangible assets are essential to the very existence of your company. But these intangibles - items like patents, logos and copyrights - the cost quickly add up.

But they don't have to drain your business cash flow...

*********** Top rated product  ***************
Be invisible to SARS
 
6 reasons SARS will audit you...
 
*****************************************
 

Intangible assets depreciate just like tangible ones do

 
We've spoken a lot about depreciation and how it can save you money. This because all your company assets - from the company car to the couch in reception - depreciate over time. 
 
What we haven't told you much about though is that your intangible assets also depreciate. 
 
This means you can claim a wear and tear allowance on them too. This is a great way to make those expensive company costs work for you on your tax return. 

Here's what you need to know to work out the asset depreciations of your intangibles...
 

Save money by calculating depreciation on your intangible assets

 
Your patents, logos and copyrights depreciate at 5% of their original value each year. If you use the straight line method to calculate depreciation on a patent that costs R10 000, you can claim 5% or R500 back on it each year. 
 
If you paid for designs or development programmes, those depreciate at 10% of their value each year.
 
AND if the intangible asset costs R5 000 or less, you can write off the whole amount in the same year.
 
The bottom line: Your intangible assets no longer have to drain your company of money. Just remember to calculate their depreciation correctly and you can get a ton of money back from SARS.
 
*********** Reader's choice  ***************
Are your capital gains costing you too much tax?
 
Get your copy of Capital Gains Tax 101: Your ultimate guide to slashing Capital Gains Tax today so you don't pay a cent more to SARS than you have to.
***************************************


Related articles




Related articles



Related Products



Comments
0 comments


Recommended for You 

  Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance



Here are all the most interesting, thought-provoking and common tax questions
asked by our subscribers over the last tax year – everything from A to Z!

To download Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance click here now >>>
  Employees always sick? How to stop it today



Make sure you develop a leave policy to regulate sick leave in your company.

BONUS! You'll find an example of the leave policy and procedure in this report.

To download Employees always sick? How to stop it today click here now >>>
  Absenteeism: Little known ways to reduce absenteeism



This FREE e-report will tell you how you can reduce absenteeism in your workplace while avoiding the CCMA and without infringing your employees' labour rights.

To download Absenteeism: Little known ways to reduce absenteeism click here now >>>
  7 Health & safety strategies to save you thousands



Don't let a health and safety incident cost you one more cent. Implement these seven
strategies in your company today.

To download 7 Health & safety strategies to save you thousands click here now >>>