Proof required for Income Tax Returns: Individuals

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Following the conclusion of the tax year on 28 February 2014 documents are 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 1 March 2013 to 28 February 2014 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:

  • Was the asset your residential property?
  • Return on the sale of the asset.
  • Base cost of the asset, i.e. the purchase price if purchased after 1 October 2001, or a capital gain valuation of the asset.

6. Other income
Details and/or proof of other income (e.g. partnership income).

7.  Medical fund contributions

  • Medical fund contribution certificate.
  • Proof of payment of claims not covered by your medical fund and paid by yourself.

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:

  • Make and model
  • Year of manufacture
  • Purchase price
  • Registration number
  • Kilometre reading on 1 March 2013
  • Kilometre reading on 28 February 2014

If you kept a record of travel costs incurred during the year, proof of the following is required:

  • Fuel and oil consumption
  • Repairs done
  • Insurance and licence fees
  • Lease/Installment agreement

10. Income protector
Contribution certificates.

11. Donations
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 on 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.

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IC Marais

Professional experience:

IC Marais is a certified CA (SA) with public sector and private sector technical knowledge based on 5 years’ Public Sector accounting, auditing and financial management experience and 5 years audit, tax and accounting experience. Detailed knowledge of private and public sector accounting and auditing standards (GRAP, IPSAS, IFRS, IAS, ISA) and public sector financial legislation (MFMA, etc.)

He enjoys the outdoors, hunting and fishing.

ic@newtons-sa.co.za

SCHALK GOUWS

Professional experience:

In 1995, Schalk started as a trainee at Warner and Newton (which became Moores Rowland in 1997 and then Mazars Moores Rowland in 2007) in Bloemfontein. In 1998, Schalk was appointed as manager at Moores Rowland, where he became a partner in 2003. Schalk received his Postgraduate Certificate in Advanced Taxation in 2006 and in 2009 he received his Certificate in the Administration of Estates.

schalk@newtons-sa.co.za

CEDRIC PETERSON

Professional experience:

Cedric started as a trainee at Warner and Newton (which became Moores Rowland in 1997 and Mazars Moores Rowland in 2007), Bloemfontein, in 1986. After completion of his articles, he joined the Special Investigations Division of the Department of Finance (SA Revenue Services) as a senior inspector from 1990 to 1991.

cedric@newtons-sa.co.za

LUCHA GREYLING

Professional experience:

Lucha started her career as a tax inspector at the Inland Revenue Department of New Zealand. After this she worked in commerce in Canada, Mexico and the United States.

On her return to South Africa, she completed her CA training contract with us and has been with Newtons ever since. She became a Partner in 2012.

Apart from her CA(SA) qualification she also holds a postgraduate certificate in Advanced Taxation (2005) and has the overall responsibility for training as our Training Officer.

lucha@newtons-sa.co.za