Whether you’re self-employed, a business owner or a corporate employee, tracking your travel and fuel expenses is crucial for business and tax purposes. It’s important to keep a record of your trips and start recording your vehicle’s odometer reading for the tax year on 1 March annually, to ensure that you can provide an accurate, detailed and SARS compliant logbook when claiming against a travel allowance for the year of assessment.
For the 2016 tax season, the South African Revenue Service (SARS) reported that it paid out “an astounding R15.5-billion in tax refunds” to 1.98-million taxpayers by the end of the tax season.
Additional statistics released by SARS for the 2015/2016 tax season include:
- SARS received 5.74-million returns by the close of tax season;
- 4.16 million submissions by individuals for the 2015/16 tax year;
- 47 000 submissions by trusts for 2015/16 tax year;
- 1.52 million returns for previous tax years from individuals and trusts;
- 92.4% of tax returns were assessed within three seconds;
- 93.28% of refunds were paid to taxpayers within 72 hours;
Click here to view the important dates for the 2016/2017 tax period.
Live life simply by using the Matrix Tax Logbook* for automated Travel, Fuel and Maintenance reporting
Matrix understands that keeping track of your trips can be tiresome and that is why Matrix offers all MX3 customers access to the best, state-of-the-art automated SARS Tax Logbook. This logbook is web-based so you access your trip data anytime, anywhere, provided you have an Internet connection.
With the Matrix Tax Logbook*, you can enjoy the following features:
- View all your trips made within a selected timeframe
- Record and edit your trips as private or business
- View the total distance travelled for your selected timeframe
- Export your trip data
- Record all your fuel and vehicle maintenance expenses electronically
No more pencils, papers and stress about long-forgotten trips. Keep your eyes on the road while our electronic Matrix Tax Logbook* is safely and automatically produced.
To upgrade your package to an MX3, please contact our specialist upgrades agent on 011 654 8250 or email us at email@example.com
The Matrix Team
*For MX3 customers only