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Treatment of rental loss and living expenses while studying

Posted 18 February 2016 under Tax Q&A


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Daniel says:
18 February 2016 at 8:32

From Sep '14 to Oct '15 I temporarily left the employ of my company to study my MBA full time overseas. During this time I rented my primary residence in South Africa out. (a) Am I able to deduct the losses on the rental of my primary property (rent - levies - interest on bond - rates) from my taxable income?

(b) During the time I was away, I had to make use of savings to pay for living expenses (food, necessities, partial travel expenses, but NOT tuition, textbooks, accommodation, visa costs - which were all covered by scholarships). Am I able to deduct my (and my families) living expenses for the year from my taxable income?

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TaxTim TaxTim says:
18 February 2016 at 9:08

Unfortunately you will not be able to deduct the family expenses as these are personal. You can deduct your rental loss provided you do not intend to continue running at a loss as SARS will disallow it then.


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