Transfering my car into a PTY

[Basment Dweller]

Hey guys,

I want to transfer my car into my companies name for tax write off purposes, has anyone done this?

I sent my mom to look into it for me and they told me the company needs to be registered with JMPD, what's this all about?

I've done this before when I sold off one of my cars and remember there being two forms, one blue and one yellow for both the seller and buyer to fill in.

[Dave A]

Assuming there is no outstanding finance on the vehicle, the only "tricky" part is assigning a fair market value to the transfer.

[HR Solutions]

Yes I have done this - Go to the Bedfordview traffic department. Quick and easy - The guy at the front counter will tell you what forms you need to fill in and what to do. I did this about a year ago and can't quite remember what colour forms I had to fill in. I do know you have to nominate a proxy for the business, but it really is not difficult. Get a current value for your car and done deal

[Basment Dweller]

Cool cool ok thanks, I assume the company's proxy will be the director who is me

[Phil Cooper]

You will also need to take the Company's Registration docs - or a copy.

Not sure on VAT - but may need proof of that too.

[Basment Dweller]

I got the 'official' CIPC registration document of the company, I paid R30 to export this from the CIPC website, hope this is enough.

[Nigel Hamilton]

Just check the perks tax....my understanding is it applies even if car is paid off? Unless it is a single cab bakkie etc