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Bond repayments on a rental property

Posted 28 July 2016

Beatrice says:
27 July 2016 at 23:14

Rental income which I have declared. The bond repayments, is that part of expenses? What about the extra R1000 which I put towards the bond repayment? Where does this fall? I did not enter it at all. Please help

TaxTim TaxTim says:
28 July 2016 at 7:30

You are unfortunately not allowed to deduct the bond instalment or the additional R1000 you pay towards the bond, the only expense you are allowed to deduct in relation to your bond is the interest charged on the bond. Kindly look at our Rental property deductions in order to see what else you are allowed to deduct from your rental income.

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