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Rental income - offsetting expenses for tax purposes?

Posted 8 October 2013 under Tax Questions



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We only managed to get our first tenant from 1 October. Do we accrue only the expenses - interest on bond, levies, rates, etc. - from 1 October, or for the entire financial year?

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TaxTimTaxTim says:
9 October 2013 at 18:47

Were you actively seeking to find a tenant for the whole year?


Mich says:
10 October 2013 at 7:41

No, we had started seeking a tenant from August, for 1 September 2013.


TaxTimTaxTim says:
10 October 2013 at 10:54

For tax purposes your can only deduct expenses from when the apartment was being rented out or in the process of being sought to be rented. Basically from the day you began looking for a tenant.


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