Query about Home Loan..

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  • Harry.Jakson
    Suspended
    • Sep 2014
    • 1
    #1

    Query about Home Loan..

    Hello everyone,


    I am planning to buy a home on loan very very soon so wanted to know that what exactly is the criteria for the tax rebate for home loan, can you anyone please tell me the Process of home Loan ?

    Thanks in Advance.
    Tags: None
    • Phil Cooper
      Gold Member

      • Nov 2010
      • 645
      #2
      No tax break on home loan, unless you rent it out.

      Personal use = no tax break.

        Comment

        • Houses4Rent
          Gold Member

          • Mar 2014
          • 803
          #3
          If rented out you can only claim the interest portion of the instalment as deduction from the income to reduce you taxable income.

          If you buy in a trust the trust will get that tax benefit, not you directly.
          Houses4Rent
          "We treat your investment as we treat our own"
          marc@houses4rent.co.za www.houses4rent.co.za
          083-3115551
          Global Residential Property Investor / Specialized Letting Agent & Property Manager

            Comment

            • flaker
              Silver Member

              • May 2010
              • 419
              #4
              Originally posted by Harry.Jakson
              Hello everyone,


              I am planning to buy a home on loan very very soon so wanted to know that what exactly is the criteria for the tax rebate for home loan, can you anyone please tell me the Process of home Loan ?

              Thanks in Advance.
              USA taxation laws would differ from our South African ones

                Comment

                • AndyD
                  Diamond Member

                  • Jan 2010
                  • 4946
                  #5
                  Yep, well spotted Mr Flaker. His stated location is also misleading, the ipaddress is from the Indian sub-continent.

                  I suspect the OP was posting with the intention of getting exposure for the affiliate link in his signature (which I've since removed). The question has little relevance on a South African forum so I've closed the thread.
                  _______________________________________________

                  _______________________________________________

                    Comment

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