The South African Revenue Authority (SARS) has a published the prescribed rate per kilometre and the cost scale used for the purpose of Calculating a Travel Allowance. The changes are as follows:
Vehicle Lookup for the Purpose of Calculating a Travel Allowance
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Prescribed Rate Per Kilometre |
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Click here to view the notice from SARS.
The change for the prescribed rate will be included in the next software update, Release 6.2a, currently scheduled for release on 7 March 2024.
Reimbursement travel transactions captured in the 2024/2025 tax year, will be calculated on the 2023/2024 rate R4.64 until the new software is installed - to correct the transactions, they will need to be deleted and recaptured.
The Tax and Travel calculator for 2024/2025 has also been updated with the new scale and rate.