SARS tax prep
Rental income and every deductible expense are recorded through the year against the SARS line items, so the return is a download rather than a reconstruction.
The tax sheet
Income and each class of deductible expense, per property and in total, for the South African tax year, laid out the way the return asks for it. Download it as a PDF for your accountant. Gaps are flagged — the deductions landlords most often forget.
Provisional tax
An indicative provisional-tax estimate from the year's figures, and reminders before the deadlines.
Evidence
Attach the slip or invoice to every deduction as you record it, and download them all as one evidence pack — the proof SARS can ask for, kept for as long as the law requires.
Improvements and CGT
Capital improvements go in their own register: out of this year's deductions, tracked towards the capital gain when the property is sold.
Accounting export
A journal export for Xero, Sage or QuickBooks, with VAT split out where a month was invoiced with VAT.
Questions
Which expenses can I deduct on rental income?
Repairs and maintenance, bond interest, levies, rates, insurance, agent fees, bank charges and other running costs — the guide lists them. Improvements are not deductible; they count towards CGT.
Does Mastendi file my return?
No. It prepares the figures and the evidence behind them; you or your accountant file.
What about VAT?
A registered vendor's tenant invoices are tax invoices, and the accounting export splits VAT out.
Read on
- Guide: rental income tax — every deduction landlords can claim
- Feature: rent, arrears and statements
Have the return ready in February
Start recording this year's deductions in the 30-day free trial.
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