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"statement of assets and liabilities"

Posted 17 August 2015

KA said:
15 August 2015 at 10:44

Hi Tim,
"statement of assets and liabilities"
I dont remember seeing the field for motor vehicles on previous tax returns. Is it necessary to declare motor vehicles. . ?
Also: cash in bank accounts and personal effects. . . ?
thanks!

TaxTim Marc TaxTim Marc said:
17 August 2015 at 12:28

Yes, you need to include the cost/purchase price of motor vehicles in your Statement of Assets and Liabilities. This is not a new requirement.

You also need to declare cash balance at year end and include an estimate of your personal effects (i.e jewellery, paintings, furniture)

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