Hi Andre I've just discovered your Channel and I want to say a BIG THANK YOU. You are a great Teacher and make things really easy to understand 🙏🙏🌈🌈
@AndreBothmaTax9 ай бұрын
Thanks so much for the words of encouragement. Happy that you`re here!
@wjg203 Жыл бұрын
Once you understand investment/rental property taxes, you wil understand why it's the best investment one can get.
@cebim72513 ай бұрын
Hi. This is clear and understandable. How does it work when the rental income goes from tenant ,deposited in agent account, then to owner account, which goes to the bond debit order.
@irri46422 жыл бұрын
Very helpful, thanks Andre 👌
@AndreBothmaTax11 ай бұрын
Glad I could help
@Riatheone Жыл бұрын
Hi Andre, If I own a flat which Im still paying bond for, and I have a rented out the flat on a long term lease agreement with a family for them to dwell, do I have to Pay VAT or register as a Provisional Tax Payer???? Please Help Me Understand This Dear 🙏🏾 As I Am Clueless But Want To Be On The Right Standing With SARS🙏🏾.
@AndreBothmaTax11 ай бұрын
SARS will indicate whether or not you're a provisional taxpayer. There is no VAT on residential rentals
@Riatheone11 ай бұрын
@@AndreBothmaTax Thank You So Much For The Reply.
@zamoblacktiger8 күн бұрын
SARS removed my bond interest on my returns , why is that?
@TyNel554 ай бұрын
Can you explain a Tax directive for commission earners.
@incognito9909 Жыл бұрын
Hi Andre, I hope you are keeping well. I would like ask. I'm a 9-5 individual and decided to to take a risk and buy a property which I'll rent it out. I am clueless when it comes to tax implications as I am the individual for the property, I have not registered an entity.What should I do for tax purposes since I'm expecting a loss?
@AndreBothmaTax11 ай бұрын
You should declare the loss on your tax return
@johanlourens10 ай бұрын
Hi Andre, I have an apartment I'm renting out for AirBnB. Can I deduct the internet costs and the parking space I'm renting in the building?
@andrew12348562 жыл бұрын
To be able to pay tax, does this property have to be under a company?
@AndreBothmaTax11 ай бұрын
No, it doesn't need to be owned by a company.
@24NIEMANDАй бұрын
Now how the frack do I calculate bond interest, or prove this to SARS?
@zamoblacktiger8 күн бұрын
Compile your 12 month bond statement showing payments interest.
@mTuber9079 Жыл бұрын
If SARS flags me for an Audit. What supporting documents will I need to submit to them for both the rental income and capital gains on the sale of my property?
@AndreBothmaTax11 ай бұрын
You have to submit: 1. A rental income statement 2. A CGT calculation for the sale of the property
@mTuber907911 ай бұрын
Thanks. It's Great to have confirmation! 😁.
@senzodlamini37422 жыл бұрын
You are good bro, following your videos from Swaziland
@stephanvanzyl73032 жыл бұрын
Andre, regarding VAT registration for residential rental income... Residential rental income is exempt from VAT.. So should a company still register for VAT if it's the ONLY income that is received in the company? Sec 12(c) says you also can't claim vat on the expenses..? Am I on the right track or not really?
@AndreBothmaTax2 жыл бұрын
If the company's sole enterprise is that of long term residential letting, then the company should not register for VAT. It's an exempt supply.
@shaheensewparsadhthakur32842 жыл бұрын
Thanks for the video. I wanted to find out, what if I hire a maid to clean or a manager to manage the daily operations at the rental property, are their annual wages deductible from the taxable income?
@AndreBothmaTax2 жыл бұрын
Hi Shaheen - it's faily common to pay for a cleaner and/or management fees to run the rental property so it would be deductible yes. Just be careful, as rental properties often come under severe SARS scrutiny if they make losses.
@JLOUW-bv9dt3 жыл бұрын
Gaan dit beter wees om wins te maak deur huur inkomste as n individu of om n mpy te registreer en dan die huis te huur deur jou eie maatskappy?
@pooveshinnaicker41773 жыл бұрын
Great video thank you
@AndreBothmaTax3 ай бұрын
Thanks!
@amanjumna3 жыл бұрын
Thanks for the video. Hope you can cover the scenario where a property was initially used a primary residence and then, after a few years, is used solely for rental income. Would this still qualify for all the usual tax deductions and how would CGT be determined upon disposal. All the best.
@AndreBothmaTax3 жыл бұрын
I'll cover this in a Capital Gains Tax series I'm planning
@leshegorapolai Жыл бұрын
@@AndreBothmaTax Hey… Have you covered this yet?
@madelapales95953 жыл бұрын
I have a question regarding the entry of Vat.. can u help me?☺️ Land rental expense 95,000 Vat12% Expanded tax 5% My Answer Land rental 95,000 dr Output tax 11,400 dr Expnded tax 4,750 cr Cash in bank 101,650 cr Imy answer is correct or not?? Thank you
@pooveshinnaicker41773 жыл бұрын
What if you run a loss from renting out a property, how are yoj taxed then
@AndreBothmaTax3 жыл бұрын
The loss gets deducted from your taxable income.
@zamoblacktiger8 күн бұрын
@@AndreBothmaTax what does that mean to my tax?
@zhixiangtu60132 жыл бұрын
Thank you for the great video. Are all these deductions applicable to companies only or to individual investors as well? And when the profit ends up negative after all these deductions, can that negative profit reduce my taxable income from salary?
@nisihangwemahuwa54143 жыл бұрын
How to object if rent income was wrongly included In my return of which the rent producing property was awarded to my former spouse during divorce settlement?
@segametsijanerakomane55472 жыл бұрын
Hi there. Thanks for the great video. Please advise what is listed as depreciation from a rental property. Thank you
@AndreBothmaTax11 ай бұрын
If you bought furniture for the rental property, then those assets can be depreciated.
@progressaddict89843 жыл бұрын
Great video.. Wanted to know how do we differentiate between Residential and Commercial accommodation to determine if the rent is exempt from vat or not?
@AndreBothmaTax3 жыл бұрын
Dwellings are exempt from VAT and they would be the "residential accommodation". There is normally a long term lease in place as well. Commercial accommodation though, is boarding, lodging, short term, regularly supplied with additional goods and services such as dstv, internet, groceries etc and there is no lease contract. This type of letting will have VAT if the enterprise is registered for it. Examples may include: Hotels, hostels, boarding houses, bnb's, guest houses, holiday homes.
@progressaddict89843 жыл бұрын
Hmm so how would you classify student accommodations because most of them are at a dwellings but they come with those additional services/goods you mentioned for commercial accommodation?
@AndreBothmaTax3 жыл бұрын
@@progressaddict8984 There were court cases about this, but I can't remember the exact detail unfortunately. I can get the detail of it and send it to you if you want.
@progressaddict89843 жыл бұрын
I would really appreciate that if it's not too much trouble thank you.
@muhammeddawood60993 жыл бұрын
Can you please do a video on how does the primary rebate effects personal tax return calculation
@AndreBothmaTax3 жыл бұрын
I can make a video like that yes.
@AirbnbRentalEmpire3 жыл бұрын
Informative stuff, keep it up!
@kerri-leighacutt48473 жыл бұрын
Thank you for the very interesting video. Please can you do company tax for rentals and house flipping?
@warrenski3 жыл бұрын
Thanks for your awesome video Andre, very clearly presented. Looking forward to part 2. Just a quick one for you, you use two abbreviations in one of your slides: ICOP and ITPOI. Can you elaborate on those please?
@AndreBothmaTax3 жыл бұрын
ICOP - In community of property ITPOI - In the production of income
@warrenski3 жыл бұрын
@@AndreBothmaTax Doh of course! Thanks for clarifying