SARS Source code

[Uys]

Does anybody know what the source code for rental income is when completing your ITR12? Do you use the same code weather you are making a loss or a profit?

Uys

[Amalandy]

different codes are used
4210 - profit
4211- loss

[Henris]

Originally Posted by Uys

Does anybody know what the source code for rental income is when completing your ITR12? Do you use the same code weather you are making a loss or a profit?

Uys

Pay the money to the expert to do your tax returns. In the long run, you won't beat him in expertise and accuracy of monies paid.

[JasonRSA]

I agree Henri. the headache and panic isn't worth it.

Much like doing your own dental procedures. Unless you're that oke that circumnavigated Madagascar, and have pliers handy - leave it to the pros.

[Uys]

Originally Posted by Henris

Pay the money to the expert to do your tax returns. In the long run, you won't beat him in expertise and accuracy of monies paid.

What happend to DIY?

[Henris]

Originally Posted by Uys

What happend to DIY?

Uys, you can't keep abreast of all the things that can be claimed, etc.

My rule of thumb is that the expert has to cost me less than if I did the papers myself. Else he is not on the ball.

[JasonRSA]

My acc keeps tabs on new legislation etc etc. that get passed all the time.
Evey few months there's some new rigmarole you have to go through. He's up to date on all the loopholes, because it's his job to keep up to date. AND he saves you money in the long haul.

[Willies]

In this case DIY means Destroy It Yourself

Let the experts deal with it