What is the rate per kilometer in South Africa?

20 cents per kilometre and the prescribed rate is R3. 98 cents per kilometre, the amount that will be included in remuneration for purposes of calculating the PAYE is calculated as (R4.

How much should I charge per km?

The rate is: 72 cents per km for 2020–21 and 2021–22. 68 cents per km for 2018–19 and 2019–20.

What is the cents per km rate for 2020?

The rate is: 72 cents per kilometre from 1 July 2020. 68 cents per kilometre for 2018–19 and 2019–20.

What are AA rates per km?

If, for instance, your drive a small sedan at the coast, the total AA rate calculated on the vehicle may be R 3,35 per driving kilometre which amounts to R 67 000 if you drive 20 000 km a year.

How do you calculate price per km?

To estimate the fuel cost for a trip you need the trip distance, cost of fuel per litre, and the vehicle’s average fuel consumption. In other words: Divide the total distance (km) by 100. Now multiply the answer by the average fuel consumption, and then multiply this number by the price of fuel (per litre).

IT IS INTERESTING:  What kind of natural disasters happen in Africa?

What is the km rate for 2020?

98 cents per kilometre, irrespective of the total amount of business kilometres travelled. The taxable value is 3.5% of the determined value (the cash cost including VAT) per month of each vehicle.

What is the km rate for 2019?

The prescribed rate for the 2019 tax year is R3. 61 per kilometre. There are no changes to the way that you capture the reimbursement on a payslip on SimplePay. We aim to keep you compliant with SARS and therefore SimplePay has been updated to take these rules into account.

How many kms can you claim on tax without proof?

You can claim a maximum of 5,000 business kilometres per car, per year. You do not need written evidence, but you need to be able to show how you worked out your business kilometres.

What is the current travel rate?

Beginning on January 1, 2021, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 56 cents per mile for business miles driven (down from 57.5 cents in 2020) 16 cents per mile driven for medical or moving purposes (down from 17 cents in 2020)

What percentage of fuel can I claim?

Mileage, vehicle costs & travel

The first 10,000 business miles can be claimed at a rate of 45p per mile; 25p per mile thereafter. (Motorcycles are at 24p per mile). The mileage rate covers the cost of fuel, servicing, insurance, tax, MOT, depreciation of the vehicle etc.

What is the SARS rate per Kilometre?

3.82 per kilometre (from 1 March 2021). kilometres AND the prescribed rate per kilometre AND no other compensation is paid to the employee.

IT IS INTERESTING:  Which of the following are the two most prominent religions in East Africa?

How much should a company pay per km?

The Income Tax Act sets a maximum amount that an employer can pay an employee for the amount to be considered “reasonable” and, therefore, excluded from your income. For 2018, that limit is 55 cents per kilometre for the first 5,000 kilometres driven and 49 cents a kilometre after that.

What is the rate per km in South Africa 2021?

Mboweni set the simplified per-kilometre allowance or reimbursement rate at R3. 82 per kilometre.

How do I calculate my pay per mile?

To calculate the “cost per mile,” divide the cost by the number of miles you drove that month. For example, “fixed costs per mile” is calculated by dividing $2515 (fixed costs) by 8,400 (miles), which gives us $0.30 per mile.

How do you calculate fuel cost?

First, divide the distance of the route by your miles per gallon figure to find out how many gallons of gas you will need. After that, multiply the number of gallons by the price of gas to calculate the gas cost for your journey.

How far can you drive with R100 petrol?

Renault’s compact Kwid will take you as far as 134km on R100 worth of petrol and it will cost about R476 to fill-up in Gauteng, giving drivers a range of 636km from its 28l tank.

Across the Sahara