The number of years allowed to write off assets is contained in Interpretation Note 47 issued by SARS. It’s a long list and covers a myriad of assets but some certainly had me scratching my head:
Adding machines - 6 years
Adding machines went out of vogue about 30 years ago. Perhaps there’s still a thriving market in Springbok?
Bumping flaking - 4 years
Huh??? Hmmmmmm...
Cheque writing machines -6 years
What’s a cheque?
Guillotines - 6 years
Is it legal to guillotine staff in South Africa? (A few candidates do come to mind...)
Mobile caravans - 5 years
I thought all caravans were mobile
Motorised chain saws - 4 years
I thought all chain saws were motorised
Musical instruments - 5 years
Writing off a Stradivari violin will sort out your taxable income for the next 5 years
Shakers - 4 years
We have a couple of movers and shakers where I work
Typewriters - 6 years
I read that some Japanese company made the world’s last typewriter the other day.
It’s really difficult to find anything remotely funny about tax so I hope SARS never modernize their list so that in 2025 someone will be trying to figure out what an adding machine is.
By the way, the acquisition of “small” items at a cost of less than R7 000 per item may be written off in full during the year of acquisition.
Greg BeykirchBy the way, the acquisition of “small” items at a cost of less than R7 000 per item may be written off in full during the year of acquisition.
Financial Director
CONSULT YOUR ASSOCIATION.
WE ARE HERE TO HELP YOU !
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