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Rental Income and bank charges

Posted 4 July 2017

Richie says:
4 July 2017 at 23:32

Good day Tim,

Are bank costs allowed to be deducted against rental income. Also what is teh limit here - the FICA rate is R59pm fee, but some banks include it in the monthly bank facility fee say R200pm - is the 200 claimable?

TaxTim TaxTim says:
4 July 2017 at 23:38

You are able to deduct the full bank costs if this is what is paid in accordance with earning the rental income.

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