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Can company expense bond related expenses for property owned by director but used & paid by company?

Posted 7 July 2016 under Tax Q&A


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B&B says:
7 July 2016 at 10:52

I bought property in my personal name and started a B&B which is registered as a PTY. Can the PTY expense the interest on the bond and the bond installments since it utilises the property and pays for it even though it is registered in my name?

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TaxTim TaxTim says:
7 July 2016 at 11:23

Your PTY cant claim the expense, as the property is in your personal name and the PTY is a separate entity.


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235 DAYS
LEFT OF
TAX SEASON
2017


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started