Tags: allowances and deductions, tax allowances, tax deductions, allowances, deductions

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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How to get 28% of your bad debt back from SARS...

Does your company suffer from bad debt? It no longer has to...

Today, you'll discover how to get SARS to pay you back for 28% of your company's bad debt!

Find out how now.

 
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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.
 
Until next time

Natalie Cousens
Managing Editor: Practical Tax Loose Leaf service
 
Ps. Do you have burning tax questions you'd like answered? Subscribe to the Practical Tax Loose Leaf today. Over 2000 of your peers are already benefiting from this service.

Author: Natalie Cousens