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Can I deduct the interest I pay on my home loan?

Posted 6 November 2012 under Tax Q&A


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I have received a tax certificate from my bank showing the amount of interest I was changed during the tax year. Where (if anywhere) do I capture this on my tax return?

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TaxTim TaxTim says:
1 November 2012 at 13:30

You are not allowed to deduct the interest on a home loan unless you rent that home out to earn income in which case the interest can be deducted from that income before you pay tax. Otherwise I'm afraid the interest is not a tax deduction!


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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