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company cars

What your company drivers MUST know about road safety
If you have company drivers, road safety has everything to do with you. You see, when you employ someone to drive a company car, that vehicle is an extension of your employee's workplace. This means when your employee is out of the office on his driving duties, he's still at work and you must ensure he's safe. How do you do this? Make sure your company drivers know the following about road safety...... ››› more
[10 January 2014]

The correct way to allocate travel expenses when you charge clients
If you spend any money travelling to clients, you'll know that the expenses quickly rack up. Most companies charge their clients for these travel related costs. But do you know how to account for these in the best way, so you don't have to pay any additional charges on the amount? Have a look at this question we got on the Accounting and Tax club and the answer from our expert Alan Lewis, Tax Advocate.... ››› more
[29 November 2013]

You must charge output tax on these EIGHT fringe benefits - here's how
We all think that simple job perks are just that: Simple. But did you know that you should charge output tax on certain fringe benefits, or face penalties from SARS?... ››› more
[22 November 2013]

Three company car tax savers to shed thousands off your tax bill
Do you know you can shrink your company car tax bill? Do you know how to? If not, then spend five minutes reading this. I guarantee you'll save thousands off your company car tax bill. Read on to discover three company car tax savers.... ››› more
[14 November 2013]

Four steps to calculate the fringe benefit for rented company cars
Before 1 March 2013, you would have found it difficult to tax your employees for their use of permanently rented company cars. This is because it was almost impossible for you to get the true value of the car from the company you're renting the car from. I.e. the car company only gave you an estimate of the car's value. Now for the good news...... ››› more
[14 October 2013]

Company cars: Two unusual scenarios of private use and how to tax them correctly
If your employees use company cars, you'd better make sure you're taxing them correctly. If you don't, you're opening the door to a potential 10% tax penalty for under-deducting your employees' tax. Read on to discover the two unusual scenarios of company car private use and how to tax them correctly.... ››› more
[11 October 2013]

Use these four steps to tax your employee's private use of the company car
If you give your employee the use of a company car, then you'd better make sure you're taxing it correctly. If you don't, you're opening the door to a potential 10% tax penalty for under-deducting your employees' tax. Don't take that risk. Follow these four steps to ensure you tax employees' private use of the company car correctly.... ››› more
[30 September 2013]

When is a company car not a fringe benefit?
A company car is a car provided by your company for the business and sometimes private use of an employee. You probably know your employee's private use of the company car is a perk (a fringe benefit). And this means you must deduct PAYE on the value of the private kilometres, which your employee travels in the company car. But did you know there are instances where a company car won't qualify as a fringe benefit? Read on to find out what they are so you can comply.... ››› more
[30 September 2013]

Company car vs. travel allowance: Which option is right for your business?
The choice between the company car and the travel allowance isn't an easy one to make. Each option carries tax pros and cons for your company and for your employee. If you don't understand the tax obligations and requirements linked to each, you'll find yourself in danger of tax penalties. Luckily, that's a risk you can avoid. Here are the pros and cons between the two...... ››› more
[11 September 2013]

Selling business assets? Here's how to deal with the Vat
It's important that you handle Vat correctly when you sell you sell business assets. Getting this wrong could result in harsh penalties. Don't take that risk. Here's how you must manage Vat when you sell your business assets.... ››› more
[02 September 2013]

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