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Hi,
Hoping someone can help me. Over the years we've managed to get our bond almost paid up 9 years ahead of schedule.
I'm currently buying a 2nd property to use as a rental and was going to fund it with the access facility on my existing bond. The question is... do I still qualify for the tax benefit with SARS on the rental income, as a result of interest, for this property if it was funded from my existing bond or do I need to take out a new bond to fund it to allow me to deduct the mortgage interest as a deduction.
Hoping someone can assist.
Hoping someone can help me. Over the years we've managed to get our bond almost paid up 9 years ahead of schedule.
I'm currently buying a 2nd property to use as a rental and was going to fund it with the access facility on my existing bond. The question is... do I still qualify for the tax benefit with SARS on the rental income, as a result of interest, for this property if it was funded from my existing bond or do I need to take out a new bond to fund it to allow me to deduct the mortgage interest as a deduction.
Hoping someone can assist.