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Rental income from a second property.

Posted 10 June 2016 under Tax Q&A
Yoyo says:
10 June 2016 at 11:36

Am I a provisional taxpayer if I made a loss out of my additional property I'm renting out. And also what can I deduct as expenses from my rental income.

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TaxTim TaxTim says:
10 June 2016 at 12:56

You will only be required to register as a provisional taxpayer if you earn additional N$5,000 outside of your employment.

Expenses you may claim against rental income include rates and taxes, insurance, water and electricity, repairs, interest on the mortgage bond, etc.

Be careful of your losses being ring-fenced - for more details, see our article on Ring-fencing.

Hope this helps.

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