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Declaring rental income to SARS

Rental income derived by a resident or non-resident of South Africa, on their immovable property located in the Republic, is taxable and needs to be declared over to SARS. The way in which we make tax payments on any profits relating to rental income is by way of provisional tax submissions (IRP6) every August and February of any given tax year. These two provisional tax submissions/ payments will tie up to the rental income and expenses declared once a year on either a resident or non- resident's income tax return (IT12). Please take note of the expenses that you are able to claim as tax deductible expenses, to reduce the tax owing on rental profits derived. #stratfinn #SARS #rental #rent #rentalincome #expenses #tax #taxliability