Following the conclusion of your tax year, documents will be issued to you that must be retained for tax purposes.
The following documents should, if applicable, be submitted to the accountant who completes your tax return and should be available if the South African Revenue Service (SARS) requests them:
1. IRP5 and IT3 certificates
IRP5 and IT3 certificates reflecting salary, annuities, pension and other income received.
2. Interest received – local and foreign
IT3 certificates reflecting the interest received for the year relating to savings accounts, cheque accounts, fixed deposits and other investments.
3. Dividends received – local and foreign
Details and/or proof of dividends received.
4. Bequests and donations received
Details and/or proof of bequests and donations received.
5. Capital gain or loss
The following information is required:
6. Other income
Details and/or proof of other income (e.g. partnership income).
7. Medical fund contributions
8. Annuity fund contributions
Annuity fund contribution certificates.
9. Travel allowance
If you wish to claim expenses against your travel allowance, the logbook for the tax year is required, together with the following information concerning the vehicle for which you received the travel allowance:
If you kept a record of travel costs incurred during the year, proof of the following is required:
10. Income protector
Proof of deductible donations.
12. Other information
Details of any other action or event that may influence your tax liability.
This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)