Mr Rowan i have learnt a lot from your videos, i have a question what is the use of a tax certificate for home loan,do you need to submit it to SARS if you have a rental income? Secondly are you doing mentorship programme if yes how do i become a member
Yes, any additional money paid over and above the monthly bond repayment will reduce the outstanding capital. This will also reduce the interest costs as interest is calculated daily on the outstanding capital balance.
@@hey_carl Only if your total income for the year exceeds your total expense. Expenses include property taxes, levies, insurance, agent commission, maintenance, interest on mortgage loan and any advertising costs. Thus, even though you might be making a monthly surplus this does noy yet mean your surplus will be taxable. Also remember that in preceding years where expense exceeds income you will enjoy a tax benefit.
Mr Rowan i have learnt a lot from your videos, i have a question what is the use of a tax certificate for home loan,do you need to submit it to SARS if you have a rental income? Secondly are you doing mentorship programme if yes how do i become a member
Brilliant product, thanks Rowan !
Thanks for watching Verna :)
Can you make a video explaining how to go about using you guys for property rentals and also how to use your current property to buy a new one
Looking at option 2. If I pay an additional say R5000 per month, am I paying the principal amount?
Yes, any additional money paid over and above the monthly bond repayment will reduce the outstanding capital. This will also reduce the interest costs as interest is calculated daily on the outstanding capital balance.
@@propertycornerZA Another question: once you make a monthly surplus, do you need to pay income tax on that.
@@hey_carl Only if your total income for the year exceeds your total expense. Expenses include property taxes, levies, insurance, agent commission, maintenance, interest on mortgage loan and any advertising costs.
Thus, even though you might be making a monthly surplus this does noy yet mean your surplus will be taxable. Also remember that in preceding years where expense exceeds income you will enjoy a tax benefit.