Rental income at a loss

Hi,

I have a apartment that I rent out. The rental income is R5000 which is R350 less that the total expenses
Levies R680
Rates & Taxes R270
Agent Commision R400
Home Loan Interest R4000

Can this loss be deducted from my annual salaried income, and how do I do this ?

Yes it can be used to reduce your income from other sources by declaring your rental and the associated expenses as a business under the Local Business section. However you can't declare a loss for more than a 3 year period. SARS assumes that you wouldn't continue running a business for more than 3 years at a loss! Register for TaxTim and let us help complete and submit your return to SARS.