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PERKS TAX GUIDE

Determine the perks tax on your new vehicle
Perks tax guide
Tax Perks Guide
As a general guide, a Company Car option tends to be preferable when business km's are low in relation to total km's. (less than 50% of total km's). A Travel allowance tends to favour taxpayers who travel high business km's in relation to total km's travelled for the year (more than 50% of total km's).

Disclaimer
The purpose of this software is to provide a guide to making the most economical choice. Whilst every care has been taken to ensure that the information is accurate, by using this information you accept that you cannot hold Bidvest Bank Limited liable for any errors. In addition, the calculations are based on our understanding and interpretation of the laws, regulations and practices at the time. By using this software you agree that Bidvest Bank Limited will not be liable for any loss as a result of changes to the laws and practices relating to travel allowance and company car schemes.
Employees are often given the choice between a travel allowance or a company car as part of their package. In making a choice there are a number of factors to consider, the most significant being business travel in relation to total kms travelled.
If one opts for a travel allowance, SARS permits the allowance receiver to choose between claiming either actual costs or gazetted costs as an expense deduction against the allowance received. The taxpayer may choose whichever method provides the lower tax liability and may opt for a different option every year.
If one opts for the actual cost method, the method of finance has a material influence on the tax payable.
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