What is Tax Logbook
Tax Log Book is a cell phone based electronic log book that allows business motorists to keep mileage information of all business trips taken by their vehicles.
Business Driver
The income tax system allows taxpayers who receive travel allowance to claim a deduction for the use of their private vehicles for business purposes. Travelling from home to work is not regarded as business travel.
In order to claim a deduction from SARS, SARS first requires the total kilometers travelled in a tax year (01 March – end of Feb the following year), thus odometer readings must be captured at the beginning of the tax year and end of the tax year.
Then the driver must indicate which kilometers were business kilometers and which ones were private kilometers.
It is therefore compulsory to keep a logbook of all the business travel to claim a tax deduction. Without a logbook, it is impossible to claim for a tax deduction.
Taxlogbook keeps a log book for you so that you can claim from your company and/or SARS for every business trip you undertake with your vehicle.
