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Which costs are deductible prior to receiving rental income?

Posted 17 April 2017 under Tax Q&A


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Simon says:
17 April 2017 at 13:48

In respect of a second property that one rents out, starting off, can one deduct the following for personal income tax:
(1) Bond transfer fees and registration costs;
(2) Costs incurred on repairs to the property in the month prior to receiving the 1st rental for the property?

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

TaxTim TaxTim says:
17 April 2017 at 15:06

You can deduct the repairs only, the other costs are part of the base cost of the property reducing any capital gains on sale.


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TaxTim
can help
you file your
Tax return!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Get started