I have a flat that, for the first time, is generating rental income for me. There is no bond owing on the flat.
I understand that I have to declare the rental income to SARS and have done all the Income minus costs ... there is no problem there.
What I want to know is - do I have to fill in the Assets and Liabilities section that automatically opens up with this section?
It is almost as though Rental Income is an addon .... the section reads ... Local Business, Trade and Professional Income (incl. rental income)
I have only found two specific instances adressing this on the internet. One that says that the Assets and Liabilites secion is only for provisional tax payers, and another which says that it should be filled in, but some people don't.
Anybody have experience in this matter?