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Answered in 42 minutes by:
10/11/2012
VerifiedFor tax purposes, the total amount of rental income made must be declared as gross income and will be taxed at the marginal rate. All expenses incurred in the production of this income are deductible. These include commissions paid to rental agents, interest on the bond, electricity, water and rates or levies over the period let, as well as the fees paid to a char or cleaning service.
A rental agent will send a statement to Sars to tell them how much they collected on your behalf.
You can CLICK HERE to access an income tax calculator for South Africa to play around with your scenario and help you plan for your tax expense.
A rental agent will send a statement to Sars to tell them how much they collected on your behalf.
You can CLICK HERE to access an income tax calculator for South Africa to play around with your scenario and help you plan for your tax expense.
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