Hide
Earn under R350,000? Click here to see why you still need to file to get your Tax Refund.
CLOSE
Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.
Try Tim Now

Primary residence definition

Posted 24 November 2015 under Tax Questions


Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Ingrid says:
24 November 2015 at 16:09

I was letting out my property and was renting in another suburb for 3 years before selling my property. Is that property still seen as my primary residence?

This entry was posted in Tax Questions and tagged , , . Bookmark the permalink.

TaxTimTaxTim says:
24 November 2015 at 16:20

How long did you live in it prior to renting it out?


Ingrid says:
24 November 2015 at 16:27

I received the title deeds October 2010 as part of the estate (I was living there since 2000 but did not own the property) and moved out May 2011, then sold property July 2014


Ingrid says:
24 November 2015 at 16:30

Moved to new primary property March 2014


Ingrid says:
24 November 2015 at 16:34

It actually does not matter if primary residence or not if the base costs and the agent commission exceed the proceeds?


TaxTimTaxTim says:
24 November 2015 at 16:52

It will be seen as your primary residence only for the portion you were living in it. Therefore you look at capital loss for full period and apportion it (using the months) between the time you lived there and the time you rented it out.
However if its a loss, there will be no tax on the sale anyway.


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Hello.
Is it me you're looking for?
I'll help you do your Tax Return with Confidence
Quickly, Easily
And Correctly
Do your own
Tax Online with Expert Help from Me, Step-by-Step.
LEARN MORE