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Treatment of rent with joint ownership

Posted 5 July 2015

Mary says:
5 July 2015 at 3:26

I am married under COP and I am a housewife. Purchased an investment flat with an inheritance. This is my sole income of R3500 pm. Do I show the rental income under husband's return or do I need to register with SARs and submit my own?

TaxTim TaxTim says:
5 July 2015 at 15:05

You would each need to show half the income and half the expenses from this rental property on your return as you are married COP. Fill in the Local Business section on your tax return.

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