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Supporting documents for capital gains



Deano says:
12 November 2015 at 9:07

I just got notified that you submitted a revised ITR12 which records the primary residence exclusion of R2000 000. The new ITA34 I received now reflects an amount of -R14 290. 15. But now I am being audited. They are not clear on the documents that I have to submit. They ask for my IRP5, medical aid certificate, IT3B tax certificate. With regards to the capital gains part, there are no specific requests. Should I submit the final statement of accounts for the purchase and sale of my former residence? Also a rates bill from the former residence to show that it was my primary residence?

TaxTim TaxTim says:
12 November 2015 at 16:16

You need to submit the sales agreement reflecting the final proceeds. You would also need the original deed/conveyancing agreement when your purchased the property which reflects the purchase cost. If you had made any improvements to the property, then you would need proof of these (invoices or proof of payments). These documents should be sufficient.

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