1st March 2012 marks an important date for motorists – it sees the start of the new tax year for individuals and for those who are receiving a travel allowance as part of their salary. As of 2011, SARS requires that individuals claiming a travel allowance must keep a detailed logbook of business travel in a private vehicle for the tax year between 1 March and 28 February, to substantiate their travel allowance tax claim.
While this may sound simple enough, the reality is that a logbook requires detailed information to be logged at all times including the date, the opening and closing kilometer readings, the destination, the reason for the visit and whether it is business or private travel. This is quite an undertaking, but it is crucial, because if SARS deems your logbook deficient, it can leave you with a potential tax liability.
Fortunately, there’s a simple solution. The small and clever GPS Log Book plugs into the cigarette lighter of a vehicle and records every trip using high sensitivity GPS, intelligent logging software and a substantial logging memory. Zones or geo-fences are created by marking points on a map and any trips to and from these locations are automatically categorised and stored.
Periodically, the device is plugged into a computer (PC or Mac) via USB and the data is uploaded to a website where the trips can be viewed using Google Maps, categorised and annotated with comments, resulting in a quick, detailed and SARS-compliant tax logbook. What’s more is the uploaded data from GPS Log Book can be stored for up to 5 years.
For more information on the GPS Log Book device visit www.gpslogbook.co.za