As a general statement, income earned by renting out your car is taxable. If your earnings exceed R70 700 in a calendar year, you will get a Form IT3(a) from RentMyRide for that year, after you have provided us with a current taxpayer ID number. Please note that this is written in the year 2016, this information might not be up to date anymore.

There may be deductions you might be able to take against this income, i.e., some vehicle expenses, depreciation, etc. Please consult your tax professional to determine tax treatment for your car sharing activities, and retain all relevant documentation.

This statement is provided for information purposes only and is not intended to constitute tax advice

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