The SAIT would also like to inform
its members that in order to claim a deduction, the
ﬁrst step is to record your vehicle’s odometer reading on 1 March each year
(the ﬁrst day of the tax year for individuals), and again on the last day of
February the following year (the last day of the tax year for individuals).
These opening and closing readings give you your total kilometres travelled for
readings, you cannot claim a tax deduction.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.
MINIMUM REQUIREMENTS TO REGISTER
The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.