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What to enter for "creditors", under Assets & Liabilities, on ITR12 form?

Posted 24 November 2014 under Tax Questions



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I earn rental income so am completing an ITR12 form. Under local assets & liabilities, the "creditors" section... does one complete 'all payments made to creditors throughout the tax year' OR the balance of what is owed for the full account OR the current monthly installment owed OR the installment owed for the month at end of tax year..?
Many thanks in advance!

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TaxTimTaxTim says:
24 November 2014 at 20:33

It would just be the amount owed at the end of the tax year.


Sarah says:
25 November 2014 at 8:39

Thank you. The other part of my question was, is it the full balance owing or just the monthly (i.e. Feb 2014) instalment owing?


TaxTimTaxTim says:
25 November 2014 at 9:08

This would be the full amount which is expected to be settled within 12 months.


Sarah says:
25 November 2014 at 9:10

Thanks so much TaxTim! Struggled all over the internet to find this information. Much appreciated!


TaxTimTaxTim says:
25 November 2014 at 9:11

Only a pleasure!


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