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Thread: What receipts must I keep?

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    What receipts must I keep?

    Hi all,

    Since we have entered tax season, I was wondering what receipts you keep during the tax year and which ones you submit in your tax return.

    I do the tax returns for myself as a salaried employee as well as a CC that contains a single property earning rental income.

    For my own personal tax return I submit my medical aid, life insurance, medical bills and IRP5 which is pretty straight forward.

    However, what do I need to submit for the CC? I have kept my bond invoices, insurance invoice, rates and taxes bills and some builders warehouse receipts for renovations. What else can I put in there?

    I have an accountant who's helping me with this stuff but was just wondering what you guys are doing?

    Thanks

    BD

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    All expenses incurred in the production of income.

    But, you should be asking your accountant these questions...

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    One thing that seems to have popped up this year - if You're getting a cell phone allowance, SARS is asking for proof of actual expenditure.
    The trouble with opportunity is it normally comes dressed up as work.

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    However, what do I need to submit for the CC?
    The AFS signed by you and the Accounting Officer.

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