Will I pay tax on my rented house if I use that money to rent a house in another area?

Posted 9 May 2013 under Tax Q&A
I only own the 1 property.

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TaxTim TaxTim says:
9 May 2013 at 20:27

If you are earning income from renting a house then you will pay tax on this amount. If however you use that money to pay a interest on a bond for another house which you rent out again and earn income then you can deduct the interest for tax purposes against the income earned.

However you cannot make claims for personal expenses such as rent on your own home.





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