Will negative cashflow property reduce my taxable income?

I own an investment flat that currently provides a negative cash flow. I am employed and pay quite a bit of tax with very little deductions. Can I offset any amount "lost" on the property against my taxable income and so reduce tax payable to SARS legitimately?

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TaxTim TaxTim says:
12 April 2013 at 12:55

Yes you will be able to claim a loss on this amount against your normal tax, but SARS may only carry this amount over to each year against future profits and most likely will not result in a tax refund. However in a lot of cases a refund does occur if you aren't making losses every year so either way you will have a tax benefit whether it be now or in the future.

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