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Just for you: The latest (2016/2017) SARS tax table for travel allowances.

by , 11 April 2016
Travel allowances are sums of money you regularly give to employees in order for them to cover their travel expenses while still using their own vehicles.

And it's your responsibility to ensure that these travel allowances are structured correctly, otherwise harsh SARS penalties await you.

So in order to help you tax your travel allowances correctly, and in so doing avoid a SARS audit from coming your way, take note of the following SARS tax table, on travel allowances, for the 2016/2017 tax year...

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Travel allowance: 2016/17 tax year

Value of the vehicle
(including VAT)
Fixed cost (R p.a.) Fuel cost Maintenance cost (c/km)
0 - 80 000 26 675 82.4 30.8
80 001 – 160 000 47 644 92.0 38.6
160 001 – 240 000 68 684 100.0 42.5
240 001 – 320 000 87 223 107.5 46.4
320 001 – 400 000 105 882 115.0 54.5
400 001 – 480 000 125 303 132.0 64.0
480 001 – 560 000 144 784 136.5 79.5
Exceeding 560 000 144 784 136.5 79.5
 
 

*So there you have it! There's the very latest SARS tax table on how to tax your travel allowances.

But don't get ahead of yourself! Because there's so much more you need to know first!

For example, do you know what the different types of travel allowances are? Do you know in what situations you should apply each of those types? And do you know how to tax each one of them?  

All these questions, and many more, can be answered by simply paging over to Chapter T 09: How to tax travel allowances in your Practical Tax Loose Leaf Service handbook.

So what are you waiting for? Get cracking!

If you don't already have this invaluable tax resource, no worries! We've got you covered. Simply click here to order your very own copy today. 

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