I have a few questions on payment of taxes.
I have tried looking through previous posts to find the answers but to no avail, and am trying to read up as much as I can on the subject from various sources.
I work for the military, so I am paid my basic salary and my career-incentive-pay by the government. This then makes up my standard montly salary from the gov.
I also own a small flat which I rent out, but am still paying off the bond with the bank and also pay the levies.
Do I fall under provisional tax if I am still paying off a bond and not making dividens off the "income" I recieve as rent?
As far as I can understand you only pay tax on the "profit" you make from renting out a place, say if the flat was paid off in full, or am i missunderstanding something?
Any advice would be helpfull.