Does my monthly bond payment qualify as a expense against my rental property? Currently my rental income is R6500pm and my bond payment, including rates, taxes and levies about R8000pm indicating a loss for tax purposes?
Only the finance charges or interest potion of the bond payment would qualify as an expense and not the entire monthly instalment. Please read our blog on Rental property deductions. The rates and taxes and levy would also be claimable as an expense.
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