Schedule 19: Motor vehicle expenses

This section outlines Schedule 19 and Schedule 19 A.

Schedule 19: Motor Vehicle Expenses – Apportioned between private and business expenses

Schedule 19 captures all information pertaining to company vehicles.

Vehicle Details

The following information about each vehicle, being utilised, needs to be furnished:

• Vehicle Information
  • Make (only if purchased)
  • Model (only if purchased)
  • Vehicle Identification Number (VIN)
  • Purpose of Vehicle (Business (specify) / Farming / Employment);
  • Vehicle purchase date;
• Vehicle Price Details
  • Price of vehicle (only if purchased);
  • VAT on price if not claimed as input deduction;
  • Total purchase cost of vehicle: excluding financing expenditure;
  • Annual allowance @ 1/3 of total purchase cost (in year of purchase and for successive 2 years);
  • Rental / lease payments (if vehicle is not purchased);
• Running Expenses
  • Fuel, oil, repairs, tyres and maintenance;
  • Licenses and insurance;
  • Accident damage repaired;
  • Financing and other expenditure;
  • Less: Accident damage recovered from an insurance company or another party

Note

Any vehicles reflected on Schedule 19 should remain on the schedule until sold, withdrawn from trade or removed from Namibia and reflected on Schedule 19A. Additional vehicles are to be listed on a separate schedule reflecting the same details.

Schedule 19A: Recoupment of Motor Vehicle Allowances

Schedule 19A captures the Motor Vehicle Allowances.

Vehicle Details

The following information about each vehicle, being utilised, needs to be furnished:

• Vehicle Information
  • Make;
  • Model;
  • Vehicle Identification Number (VIN);
  • Purpose of Vehicle (Business (specify) / Farming / Employment);
  •  
• Recoupment Information
  • Date vehicle removed from trade;
  • Selling Price of Vehicle;
  • Purchase Cost of Vehicle;
  • Total allowance claimed;
  • Tax value of the vehicle;
  • Recoupment portion of proceeds on sale of vehicle;
  • Taxable portion of recoupment.

Note

The amount recoupment portion of the proceeds on sale of a vehicle is the amount by which the selling price of the vehicle exceeds the tax value of such vehicle.

The tax value is the purchase cost less the allowances claimed in prior years.

Please note that the recoupment portion is limited to the total amount of allowances claimed in the prior years.