mobiletripsheet is a vehicle log book on your cellphone... here's how it works:
Keep an accurate and detailed log book using mobiletripsheet on your mobile phone, backed up to your web-profile and you could claim a substantial amount back from SARS on your tax return. This tax claim is only pertinent if you use your personal car during the course of a business day i.e. travelling from home to work and back does not count. mobiletripsheet is great for self-employed individuals and/or if you have a car allowance.
Cost: R299
Includes software and license
(License valid for 24 months)
| EXAMPLE OF TAX SAVING | ||
| INPUT FACTORS FOR CLAIM | ||
| Value of vehicle | R 195 000.00 | |
| Annual salary | R 250 000.00 | |
| Annual travel allowance | R 60 000.00 | |
| Odo reading March 1 2007 (km) | 55 000 | |
| Odo reading Feb 29 2008 (km) | 84 000 | |
| Total annual travel | 29 000 | |
| | | |
| | Without Logbook | With Logbook |
| Annual fixed cost element (SARS table) | R 58 334.00 | R 58 334.00 |
| Calculated fixed cost element per km | R 2.01 | R 2.01 |
| Fuel cost element per km (SARS table) | R 0.66 | R 0.66 |
| Maintenance cost element per km (SARS table) | R 0.44 | R 0.44 |
| Total cost per km | R 3.11 | R 3.11 |
| CALCULATION OF CLAIM | ||
| Business travel (kms) | Unknown | 19 000 |
| Private travel (kms) | Unknown | 10 000 |
| SARS calculated business travel (kms) limited to 14 000 km (no logbook) | 11 000 | 19 000 |
| SARS deemed (no logbook)/calculated (logbook) private travel (kms) | 18 000 | 10 000 |
| Total travel claim calculation (in both cases, limited to travel allowance) | R 34 193.69 | R 59 061.83 |
| PAYE on travel allowance (assuming 40% tax rate) | -R 14 400.00 | -R 14 400.00 |
| Taxpayer reduses tax paid by | R 19 793.69 | R 44 661.83 |
| Difference claimable from SARS using mobiletripsheet logbook | NIL | R 24 868.14 |
- Start and finish kilometer readings
- Allocation of kilometers to business or personal
- Exact departure and destination time stamps
- Departure and destination logging
- Fuel purchase logging
- Other expense logging
- Personal web based interface for log reporting
- Export log data to Microsoft Excel
- Instant average fuel consumption displayed on personal web interface
- Password protected
BENEFITS
- Ease of use and easy deployment
- Complete paperless vehicle log solution
- Easy report generation of vehicle log reports
- Web based logbook backup
From the 2008 Tax Year, without a logbook, SARS will deem your first 18 000 kms as private mileage, non-claimable! In other words, if your total annual mileage was 29 000 kms and you had actually only done 10 000 kms privately, YOU COULD LOSE OVER R24,000 of claimable tax!
Also, if you claim back business mileage from your employer on a per kilometre basis then mobiletripsheet is the mobile e-tool for you! Keep your log book, recording business mileage, and generate the report from your web-profile at the end of the month and submit it to your place of employ to claim back you mileage and/or fuel expenses.
mobiletripsheet, a mobile and web based application for MIDP1 & MIDP 2+ Cellular Phones, Symbian, Palm OS and Microsoft Pocket PC as well as Microsoft Internet Explorer, enabling business people the ability to log all kilometers travelled, both business and personal, as well as all fuel and other expenses purchased on their cellular phone and upload this information to a personal web interface. From the web interface accurate log reports can be viewed and exported to Microsoft Excel for filing as part of an annual tax return.
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