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Deductions on rental income - what is allowed?

Posted 21 February 2014 under Tax Q&A


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When doing deductions from rental income, for tax purposes, please advise which of these are deductible:
1) Monthly service fee charged on the bond;
2) Special levies raised for: Water meters (each unit is to have its own water meter, as per municipality); carports (I doubt it, as this is of a capital nature, but please confirm); garden tools.

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TaxTim TaxTim says:
24 February 2014 at 12:22

Your service fee is deductible as it is an on going expense similar to interest on the bond.

Garden tools can be depreciated as this would be an asset used similar to TV's etc provided to the tenant. Water meters and car ports would be of a capital nature as they are to be seen as improvements and not repairs.


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