HomeHome SearchSearch MenuMenu Our productsOur products

Travel allowances driving you mad? Do this to manage them more effectively

by , 22 September 2014
Do you feel your employee's travel allowance is a constant nightmare?

Do you struggle to tax it correctly or workout what he used for private travel?

Are you worried SARS will slap you with massive fines if you don't get this?

Stop! You don't have to panic about travel allowances anymore.

You just have to change one small thing in the way you manage it to help you make the process less stressful...

 

Here's what you should do to effectively manage your employee's travel allowance

 
Your employee must have a logbook. This isn't just for SARS; it's for you too. You should check your employee's logbook at the end of every month.
 
This will help you accurately track his use of his travel allowance each month and determine what his tax liability on it is, if any.
 
You can also track the way he uses his travel allowance to see if he uses it for private travel or mostly business.
 
To determine these things, check all this information…
 
*********** Advertisement ************
 
Confused about car and travel allowances? 
 
Get expert answers to the 69 most frequently asked company car and travel allowance questions.
If you've ever turned to Google to get answers to your company car or travel allowance questions, you know there are thousands of pages to search through...
 
And how do you know if the answers you get are correct?!
That's why we've teamed up with two leading tax experts to give you the expert company car and travel allowance answers you need.
 
 
***********************************
 

Check this information in your employee's logbook

 
Always check your employee's private travel kilometres. This is important because this is what he must pay fringe benefit tax on. 
 
Look at his total business kilometres, fuel and maintenance costs. This will help you check how much of his travel allowance he used for that month, as well as how much is left that must become part of his taxable income.
 
Lastly, check the date and reason for the travel to verify he was actually on business travel at the time he says he was.
 
By doing this monthly logbook check, you can manage your employee's travel allowance more effectively.

PS. Find out how to save R26 983 by keeping an accurate logbook
 
 


Related articles




Related articles



Related Products



Comments
0 comments


Recommended for You 

  Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance



Here are all the most interesting, thought-provoking and common tax questions
asked by our subscribers over the last tax year – everything from A to Z!

To download Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance click here now >>>
  Employees always sick? How to stop it today



Make sure you develop a leave policy to regulate sick leave in your company.

BONUS! You'll find an example of the leave policy and procedure in this report.

To download Employees always sick? How to stop it today click here now >>>
  Absenteeism: Little known ways to reduce absenteeism



This FREE e-report will tell you how you can reduce absenteeism in your workplace while avoiding the CCMA and without infringing your employees' labour rights.

To download Absenteeism: Little known ways to reduce absenteeism click here now >>>
  7 Health & safety strategies to save you thousands



Don't let a health and safety incident cost you one more cent. Implement these seven
strategies in your company today.

To download 7 Health & safety strategies to save you thousands click here now >>>