Results 1 to 3 of 3

Thread: Self developed Software Depreciation

  1. #1
    New Member
    Join Date
    Jul 2012
    Location
    South Africa
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Self developed Software Depreciation

    I hope someone can help me: I have developed a software product myself, which I subsequently started selling trough a CC of which I am the sole member. I now want to get the tax sorted out for the CC, and I want to know whether I am able to depreciate the asset value of the product that I developed, and if so, how do I determine the value of the asset?

    Could I alternatively show that the company "bought" the product from me in the way of a loan account? I really need help on sorting this issue out, and have tried more than one accountant who does not really know how to handle this best.

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,980
    Thanks
    3,055
    Thanked 2,463 Times in 2,068 Posts
    Blog Entries
    12
    Have you checked out this thread on depreciation of software?

    The other thought that floated to mind - I think SARS launched a special incentive for locally developed software... can't recall the details offhand - but maybe someone else will come up with the details.
    The trouble with opportunity is it normally comes dressed up as work.

  3. #3
    New Member
    Join Date
    Jul 2012
    Location
    South Africa
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Quote Originally Posted by Dave A View Post
    Have you checked out this thread on depreciation of software?

    The other thought that floated to mind - I think SARS launched a special incentive for locally developed software... can't recall the details offhand - but maybe someone else will come up with the details.

    Thank you Dave, I'll follow that up...

Similar Threads

  1. SBC - depreciation
    By Jennajay in forum Accounting Forum
    Replies: 4
    Last Post: 15-Feb-12, 01:01 PM
  2. Depreciation of Software Solution
    By Petrichor in forum Accounting Forum
    Replies: 9
    Last Post: 10-Feb-12, 09:23 AM
  3. Website developed in Joomla
    By Faan in forum Business Online Forum
    Replies: 5
    Last Post: 13-Jun-11, 09:39 AM
  4. Rental software
    By garthu in forum Technology Forum
    Replies: 4
    Last Post: 15-Jul-10, 02:19 PM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •