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What documentation is required to show income and expenditures from rental income?

Posted 8 October 2013

I recieve additional income from rental. I have an agreement with my tenants that they pay a percentage of the electricity and rates bill, the ADSL bill and the domestic staff. If I were to be audited, what documentation would I need to provide in order to prove these expenditures seeing as they are not the total amount invoiced on the ADSL or Electricity Bills?

TaxTim Marc TaxTim Marc said:
8 October 2013 at 13:53

You would need to show the lease agreement or an agreement with your tenant showing their responsibility for payment of these expenses.

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