Firm | Fenns Incorporated |
Suburb | George |
Address |
Suite 1A, 4 Mascodor Street,
Voorbaai,
Mossel Bay, 6500
See Map |
GPS | -22.100700, 34.150643 |
Languages | English, Afrikaans (in order of proficiency) |
Tel | 0861033667 |
Cel | 0728607739 |
Website | fenns.co.za |
Qualifications | |
Professional Memberships | |
SAICA |
Financial Statements | |
Personal Tax | |
Business Tax | |
Auditing | |
Monthly Accounts | |
Payroll | |
Bookkeeping | |
Business Plans | |
Co. Registration |
FOCUS
Small & Medium Sized Enterprises in diverse fields from hospitals, hotels, car manufacturers and others.Fenns Incorporated is a Chartered Accountant & Auditors firm with over 20 years experience, that specialises in providing specific accounting related services to small to medium-sized businesses.
We help SME's by providing accounting management services around auditing, payroll, tax and compliance. Our bookkeeping services include the management of financial statements, management reports, budgeting and so much more.
As we ourselves are a SME we know the needs and processes around financial management and compliance for small businesses. Reach out to us to get experienced and honest feedback and guidance to help your business's accounting processes stay on track.
Average Hourly Fees | R500 - R800 Please note that this is an indicative rate and may vary according to task. Please request a quote for exact amounts. |
Software Supported | |
Number of staff | 21 - 50 |
MAXIMISE YOUR BUSINESS TRAVEL TAX DEDUCTION
“Without a logbook, you will not be able to claim a travel deduction.” (SARS Travel Logbook 2022/23)
Even while recovering from the economic impact of COVID and facing the challenges of power blackouts, businesses and their employees are also contending with the costs of travel that have reached historic highs. Thankfully, expenses related to business travel can be deducted from taxable income – reducing the tax liability for taxpayers, including businesses, employees, commission-earners and independent contractors. All these taxpayers should prioritise maximising the available tax deductions by ensuring they can claim for every actual business travel-related expense.
This is increasingly important given the rapidly rising costs of travel, fuel and vehicle ownership. Fuel prices have more than doubled over the last five years and continue to set new records. In addition, Wesbank recently reported that the monthly cost of vehicle ownership for an average entry-level vehicle is 33% higher than five years ago and has increased 32% between November 2021 and November 2022.
To claim any business travel expenses, it is compulsory to keep an accurate and up-to-date SARS-compliant logbook for each vehicle. In addition, there are other tax implications related to travel expenses, travel allowances and travel reimbursements, some of which are briefly highlighted below.
Claiming the business travel deduction – fast facts
How to claim a business travel tax deduction
Tax implications to beware of
To maximise the tax deductions related to business travel, make sure that an accurate and up-to-date SARS-compliant logbook is kept current for each vehicle and each employee with a travel allowance, and that you consult with your accountant to understand the many tax implications for all concerned before making decisions regarding business travel.