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Jonno says: 23 November 2015 at 18:10 1. With respect to completing the Statement of Assets & Liabilities: I am married in community of property. Do I declare the value of joint assets/liabilities & SARS does the 50/50 split or do I declare 50% & my wife the same? 2. We receive income from our profession taxed in our own hands so how does this work re the completion of the Statement of Assets & Liabilities with respect to business assets, income & profit etc? |
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TaxTim says: 24 November 2015 at 0:11 You can declare the full value and they will pick it up off yours and your wife's tax return. The income received will not affect the Statement of A L, you would need to complete the Business Income section of the tax return for this extra income. Register for TaxTim and let us assist you in completing and filing your tax return. |
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