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Investement at a loss. How do I claim on my income tax return?

Posted 2 July 2014 under Tax Q&A


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How do I complete my tax return if I have property that I am renting out at a loss. (Investment at a loss).
What are all the costs that I can claim for .

This entry was posted in Tax Q&A and tagged , , , , , , . Bookmark the permalink.

TaxTim TaxTim says:
2 July 2014 at 13:50

You can claim for the interest on the bond, the electricity, rates, management fees, repairs, levies - anything that you spent on earning that rental income.

Jainita says:
30 July 2014 at 11:55

Thank you tax Tim

Do I specify on my form what the rental income of the property is?
Where do I specify that ?
When I am oing my efiling

TaxTim TaxTim says:
30 July 2014 at 12:46

You put the rental income under the "local business income" section of the return and include the rental income under "Other income"

Jainita says:
30 July 2014 at 14:44

Thank you

Where do I include on the form my monthly bond repayment on the property that I am receiving the rental income on.

TaxTim TaxTim says:
30 July 2014 at 21:59

You cannot include the bond repayment, only the interest on the finance charges block. Capital repayments are not allowed to be claimed as a deduction.

Jainita says:
31 July 2014 at 9:17

Thank you very much. I thought so.
Your assistance has been very helpful.

TaxTim TaxTim says:
31 July 2014 at 13:27

Only a pleasure!


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