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How is income taxed on a shared property?

Posted 17 January 2017

Apple said:
17 January 2017 at 11:35

My wife and I have a property registered in both of our names that we would like to rent out. Will this income be taxed in both of our names (i. E. 50% to each of us) even if the actual income is only deposited into my bank account?

TaxTim Alicia TaxTim Alicia said:
17 January 2017 at 12:59

You and your wife are required by SARS to both declare the total income on your return, deduct the expenses and then declare that you have a 50/50 partnership, SARS will then only take 50% of this income into account on either of your returns.

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