[Question] What receipts must I keep?

[Basment Dweller]

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

[dellatjie]

All expenses incurred in the production of income.

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

[Dave A]

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.

[CLIVE-TRIANGLE]

However, what do I need to submit for the CC?

The AFS signed by you and the Accounting Officer.