Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

"statement of assets and liabilities"

Posted 17 August 2015 under Tax Questions



Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
KA says:
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!

This entry was posted in Tax Questions and tagged , . Bookmark the permalink.

TaxTimTaxTim says:
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)


Get SARS Tax Dates and Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →