2 replies to this topic

[Midlands_lass]

Thanks Orca

[orca]

Source Code: Gain 2514

                       Loss 2515

http://www.sars.gov....ource-Code.aspx

 

Normally the costs of trading are already included in your statement and must not be claimed again. The "Due to you" and Due by you" amounts already include brokerage, VAT etc in the statement.

Costs such as Internet and Charting will be separate.

Edited by orca, 24 November 2015 - 04:37 PM.

[Midlands_lass]

Hi there

In the 2014 / 2015 tax year I did 10 different share trades. I did them firstly with one broker and then moved to a second who was cheaper. I have received tax statements from both.

1) I understand on my return I must specify 2 x Local business (trade & professional income). This then generates two separate sections where I would put in details of the broker & my account number etc.

2) I then put in Sales & Cost of sales leading to a gross profit.

3) I also have a form for JSE interest, which details the JSE Interest received , plus brokerage on that plus VAT. I assume that within this section under income other than turnover I put the interest, under admin cost I put the brokerage, and under other I put the VAT?

4) I have also asked for a brokerage statement to be sent to me so I can claim this. I assume this will also be added to administration cost?

5) the shares received dividends which I paid tax on. I assume I don't have to declare anything about this as tax has been paid ?

6) Lastly right at the end it mentions determined profit / loss and then there is a source code. What is the source code for trading in shares?

 

I don't have an accountant but I am sure many out there do this routinely and can help me.

Much appreciated.