What is my tax obligation/implication when firstly, buying a property in Namibia and secondly, after building on it renting it out and earning rental income on a monthly basis. I am an employed SA citizen. How do I declare this on my tax return
South African tax residents are taxed on their worldwide income. You would therefore need to declare the rental income on your tax return within the local business, trade and professional income section.
Please read our blog on Rental property deductions to see what expenses you can deduct against the income to reduce the tax payable.
Get SARS Tax Dates and Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.