Income Tax Act, 1962 (Act No. 58 of 1962)
Fixing of Rate per Kilometre in respect of motor vehicles for the purposes of section 8(1)(b)(ii) and (iii)
4. Simplified method for distances less than 12 000 kilometres
|(a)||the provisions of section 8(1)(b)(iii) are applicable in respect of the recipient of an allowance or advance; and|
|(b)||the distance travelled in the vehicle for business purposes during the year of assessment does not exceed 12 000 kilometres, or where more than one vehicle has been used during the year of assessment the total distance travelled in those vehicles for business purposes does not exceed 12 000 kilometres; and|
|(c)||no other compensation in the form of a further allowance or reimbursement (other than for parking or toll fees) is payable by the employer to that recipient,|
that rate per kilometre is, at the option of the recipient, equal to 355 cents per kilometre.
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Supreme Court Act, 1959