The company car
An employee's favourite perk...
An accountant's little time bomb
Taxing employees on their use of company cars is not as simple as you might think. Travel expense claims and deductions are one of the most common triggers for a SARS audit.
In fact, if you get it wrong you'll face penalties of up to 200% from SARS. And to top it off your employees will either pay too much tax or not enough. Either way, the admin to sort it out is just not worth your time.
The good news is that 90+% of the penalties involve only four mistakes that you can easily disarm today…
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