allowances to record their odometer reading today
28 February 2007
The South African Revenue Service (SARS) wants to advise taxpayers who earn
a motor vehicle allowance to record their odometer reading (mileage) today as
28 February marks the end of the tax year for individual taxpayers.
Taxpayers in receipt of a motor vehicle allowance are required to supply
SARS with their opening (begins on 1 March of each year) and closing odometer
readings (ends on February 28 of the next year) in their tax returns in order
to qualify for any deductions in this regard.
The reading will help individual taxpayers (in receipt of motor vehicle
allowance) to fill in their logbooks accurately. The exercise will also help
distinguish between the proportion for distances travelled for business
purposes and for the private use of motor vehicles from the total distance
travelled for the 2006/07 tax year.
SARS has published radio and newspaper advertisements to remind motorists of
"Odometer Reading Day".
For further enquiries, please contact
Adrian Lackay
SARS Communications
Tel: (012) 422 4206
Cell 083 388 2580
Issued by: South African Revenue Service
28 February 2007
