From 1st of March 2011 it is a requirement from the South African Revenue Services or SARS to keep a detailed logbook. To keep this records one can either use an electronic vehicle logbook or input this information manually by hand.
Detail information include opening and closing odometer readings with the business and private portions of a trip been specified.
Who need to keep a logbook?
- A taxpayer receiving a travel allowance from an employer.
- A taxpayer receiving a company from an employer ... to reduce the taxable fringe benefit.
- A taxpayer using the vehicle in its own business ... something we see SARS focus on currently.
There are various systems in the market, but we prefer the tripTrack system for the detailed information it provide. You can track all locations visited and even view it on Google Earth to remind you where you've been. The system comes with software that you install on your computer or laptop and you use a USB to download the data. You can describe a specific location and every time you download information from your Triptrack system it will automatically discover the location previously specified.
The software generate daily, weekly en monthly reports which can be printed and also exported to Excell .... ready to be submitted to SARS for you income tax claim.
Order your electronic vehicle logbook here
The system comes in three different models ....
1. Lite - for only one vehicle
Detailed information with monthly reports as described earlier, except for Google Earth exporting, annual reports and Microsoft excel exporting.
2. Core - for more than one vehicle
Detailed information with monthly reports as described earlier.
3. Pro - for more than one vehicle and live tracking
It is for small to large businesses with various drivers.
The system can be loaded on various computers, vehicles and users.Ideal for recoupment of travel expenses from your clients or tracking the locations of employees.