Rental Property Tax Checklist
SARS requires you to keep all tax-related documents for at least 5 years from the date of assessment.
Income Documentation
Keep rental agreements, tenant payment records, and bank statements showing all rental deposits received. Declare every cent of rental income.
Expense Records
Gather bond interest certificates, municipal rates and tax invoices, insurance premium receipts, maintenance invoices, and agent commission statements.
Capital Improvements vs Repairs
Maintenance and repairs are deductible immediately. Capital improvements that increase property value are not deductible against rental income but add to your base cost for CGT.
Frequently Asked Questions
How long must I keep these documents?
SARS requires you to keep all tax-related documents for at least 5 years from the date of assessment.
Can Admin Boss help me prepare?
Yes. Admin Boss is a registered tax practice that can help organise your documents and ensure nothing is missed. Visit adminboss.co.za/need-more-info/.
What happens if I miss a document?
Contact the issuer and request a duplicate. For bank statements, download from online banking. Missing documents may result in denied deductions.
Need Help With Your Tax?
Admin Boss is a registered tax practice with over 20 years of experience helping South African individuals and businesses navigate SARS.