RENT TAX..INDIVIDUALS on my ITR12?

By Marc Sevitz · Updated

DEAR TAX TIM...I HAVE A PRINCIPAL RESIDENCE IN ONE PART OF THE CITY BUT OWING TO A JOB TRANSFER I AM FORCED TO RENT OUT THIS PROPERTY AND TAKE A LEASE ON A PROPERTY CLOSER TO WHERE I WORK.

Q. CAN I OFFSET THE RENT INCOME RECEIVED FROM MY PRINCIPAL RESIDENT HOUSE WITH THE RENT PAID TO THE HOUSE I NOW HAVE TO RENT..IT SEEMS UNFAIR IF SARS CHARGE TAX ON RENT INCOME IF THEY DISSALOW RENT EXPENTITURE.

TaxTim Marc

TaxTim Marc said:
8 August 2014 at 12:54

Unfortunately not, you cannot offset your living expense against income earned.
Rental Income