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Three ways to get SARS to pay for those unexpected business expenses

by , 14 July 2014
Saving is hard for any business. You try really hard to manage your money and spend carefully, but something can always go wrong. Like when your company car needed a new battery or you had to fumigate your whole office.

It's enough to make you and your business despair!

But the good news is you can get that money back and SARS is the one that's going to give it to you...

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Get SARS to give you back the money for those unexpected business expenses

 
You probably dread the thought of the taxman coming to take EVEN MORE of your business money, but that stops today! 
 
Once you know what tax deductions you can claim and how to claim them you can get the taxman to pay for those unexpected business expenses. So start with these three sneaky ways to save on your tax:
 
All of your company's assets depreciate. Now this many sound bad, but it's actually brilliant news.
 
This constant depreciation means you always have something to claim. Even better, you can write off the value of the assets that cost less than R7 000, in the same year.
 
You can claim that fumigation you had to do in the office as a deduction too. You can also claim deductions of any other repairs. Just make sure those repairs don't add extra net wealth to your business because then it's not deductable.
 
Let's say your company car just died and there's nothing you could do to get it working. You'll have to scrap it but this isn't a disaster. You can claim a scrapping allowance from SARS when you get rid of an asset that's now useless.
 
With these three deductions and allowance, you can take back control of your business finances and your business tax. 
 
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8 ways to LEGALLY beat the taxman
 
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