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Can I deduct the cost of a new laptop for my business?

by , 14 December 2016
Can I deduct the cost of a new laptop for my business?There's nothing better than getting money back from SARS. And let's face it, we all want money back. The challenge is keeping track all the little unknown expenses you can legally deduct to get SARS to put more money into your bank account. For example, did you know you can claim the cost of new laptops for your business?

If not, you're not alone. One of the subscribers to the Practical Tax Loose Leaf didn't know the answer either, which is why he wrote in and asked if he could deduct the cost of a new laptop for his business.
 
Here's what he asked our Tax Helpdesk expert.
 
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Can I deduct the cost of a new laptop for my business?
 
I've claimed a scrapping allowance for the purchase of a new laptop. This was to replace one I bought in July and then misplaced in August. The new one cost me R4 999. Is it correct that I claimed the allowance?
 
Here's what our Tax Helpdesk expert had to say...
 
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How Greg got R22 400 back from SARS for his company's bad debt...
 
Greg got R22 400 from SARS for his company's bad debt...
 
Discover how he did it so you can do the same. Plus discover 46 other ways to get money back from SARS now.

 
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You can deduct the cost of your laptop
 
Yes, the cost of the laptop is deductible in full. If you buy any small items that cost less than R7 000 each you can write them off in full during the year of acquisition.
 
There are another 46 allowances and deductions you can take advantage of. To find out what they are click here.
 
There's nothing better than getting money back from SARS...
 
But do you know whether you can claim for:  
  • The cost of new laptops for your business?
  • 5% of building costs?
  • Stolen assets?
  • Gifts you give your clients to say thank you for their business?
Neither did over 10 000 of our subscribers.
 
And that's why our experts have put together the most common allowances and deductions in The Practical Tax Handbook. Find out more here.

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