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Rental property allowable deductions

Posted 21 September 2016

C1991 says:
20 September 2016 at 15:51

I bought a property and am renting it out. I know I have to submit the rental income. Am I also able to submit the expenses (i.e. Transfer / legal cost to obtain the property) levies paid, rates and taxes and electricity for this property?

TaxTim TaxTim says:
21 September 2016 at 8:20

The costs you incurred to acquire the property you can unfortunately only claim when you sell the property, you will deduct this from your capital gain.
Kindly read through our blog on Rental property deductions

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