SARS eFiling question - Bond interest?

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Rhino

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Hey Everyone.

Hoping you can help. I file every year, but I only have rental properties as I worked overseas. Now I have my own place, and I am trying to see what I can claim for. As far as I know, as my primary residence I can claim for my Bond interest, but where do I do that. Under the form wizard it only gives me the option to add rental properties ?

I know I can claim levies / rates / Repairs and Maint on the rentals, but is there anything else I can claim on my personal - and how ?

Would appreciate any guidance.
 
Rhino said:
Hey Everyone.

Hoping you can help. I file every year, but I only have rental properties as I worked overseas. Now I have my own place, and I am trying to see what I can claim for. As far as I know, as my primary residence I can claim for my Bond interest, but where do I do that. Under the form wizard it only gives me the option to add rental properties ?

I know I can claim levies / rates / Repairs and Maint on the rentals, but is there anything else I can claim on my personal - and how ?

Would appreciate any guidance.
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You can't deduct expenses against your primary residence.
 
Messugga said:
You can't deduct expenses against your primary residence.
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you can if it was rented out, if not no. This is the TLDR of all tax. All expenses incurred in the production of income can be deducted. Not your salary only the income from rental in this case and only the relevant months
 
Snyper564 said:
you can if it was rented out, if not no. This is the TLDR of all tax. All expenses incurred in the production of income can be deducted. Not your salary only the income from rental in this case and only the relevant months
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Yes, I claim back the Bond interest, levies, rates and repair and maint.

But I do have a question that maybe you would know. The one property is a house I rent out as a guest house on AirBnb etc in the berg. Can I be claiming insurance, electricity, cleaning etc against it as its an expense incurred in the production of income ?

One property is also rented out fully furnished - Can I claim the insurance on that ?
 
Rhino said:
Yes, I claim back the Bond interest, levies, rates and repair and maint.

But I do have a question that maybe you would know. The one property is a house I rent out as a guest house on AirBnb etc in the berg. Can I be claiming insurance, electricity, cleaning etc against it as its an expense incurred in the production of income ?

One property is also rented out fully furnished - Can I claim the insurance on that ?
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As mentioned if you have expense that is related to rental it can be claimed, capital expenses (imprvements etc) are different but levies interest insurance etc is typically deductible.
 
Snyper564 said:
As mentioned if you have expense that is related to rental it can be claimed, capital expenses (imprvements etc) are different but levies interest insurance etc is typically deductible.
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Thanks. I really need to get a proper tax company when I next get home as I am sure I am loosing out on deductions. However I am not sure it would help me much as my salary is outside the country so I don't think I would qualify for any actual Rand rebates etc.
 
Rhino said:
Thanks. I really need to get a proper tax company when I next get home as I am sure I am loosing out on deductions. However I am not sure it would help me much as my salary is outside the country so I don't think I would qualify for any actual Rand rebates etc.
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your rental income is taxable the deductions will help against paying less tax on that
 
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