Rental Income / Deductible Expenses
Owning a secondary property could be rewarding as it creates wealth by generating rental income on your investment and also through long term capital growth. It could also supplement your monthly income. However, not disclosing the rental income or incorrectly claiming expenses that are not in the production of income could result in you been penalised by SARS. Examples of taxable rental income that must be declared to SARS:… Read more