FIXING OF RATE PER KILOMETRE IN RESPECT OF MOTOR VEHICLES FOR THE PURPOSES OF SECTION 8(1)(b)(ii) AND (iii) OF THE INCOME TAX ACT, 1962

FIXING OF RATE PER KILOMETRE IN RESPECT OF MOTOR VEHICLES FOR THE PURPOSES OF SECTION 8(1)(b)(ii) AND (iii) OF THE INCOME TAX ACT, 1962

On 8 March 2022 the Minister of Finance, Mr Enoch Godongwana, published the Government Gazette, prescribing the new rate per kilometre and vehicle lookup table for the purpose of calculating a travel allowance/deemed cost rate per kilometre on assessment, effective 1 March 2022.

Prescribed rate per kilometre: 

The prescribed rate per kilometre used for reimbursive travel allowance for 2022/2023 has increased from R3.82 to R4.18

Vehicle lookup table for the purpose of calculating a travel allowance (deemed cost rate per kilometre on assessment): 

Click here to read the Gazette: Government Gazette 46015