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When you do your company's tax return, don't forget to attach these five documents so you don't run into trouble with SARS

by , 13 October 2014
SARS expects you to complete your tax return with all the correct information and get it in on time. If you don't, you'll run into trouble with SARS and lose out on getting money back through tax deductions.

To help you avoid these problems, you need complete your return accurately and give SARS as much information as possible.

But you also need to remember to attach these documents to substantiate your information so SARS doesn't audit you.

 

Substantiate your tax return by attaching these documents

 
You must attach supporting documents to your tax return. These supporting documents can include:
 
1. Bank statements;
2. Receipts;
3. Tax invoices;
4. Statements of Account; and
5. Tax certificates.
 
Supporting documents are important because they provide SARS hard proof when it looks at your return. 
 
This is especially important if you claim tax deductions because SARS needs these documents to see if you're entitled to them.
 
Here's what you should do to make finding and attaching your supporting documents to your tax return easy to do.
 
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How to find your supporting documents easily

 
Create a folder for all your supporting documents. This way, when you need them, you know exactly where they are. 
 
This will save you time and make it much easier for you to find the documents you need.
 
So always attach your supporting documents and substantiate the information on your tax return.
 
You can find more helpful tips, tricks and advice on how to manage your company taxes in the Practical Tax Loose Leaf Service. It contains everything you need to know about dealing with SARS and staying out of trouble. 
 

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