The costs that can be claimed

How do we define costs?

The costs (other than borrowing or finance costs) actually incurred in erecting or extending, adding to or improving a building or part thereof and it includes any costs incurred –

a. In demolishing any existing building or part thereof;

b. In excavating the land for purposes of that erection, extension, addition or improvement; and

c. In respect of structures or works directly adjoining the building or part so erected, extended, added to or improved, for purposes of providing – In respect of structures or works directly adjoining the building or part so erected, extended, added to or improved, for purposes of providing –

i. Water, power or parking with respect to that building or part;

ii. Drainage or security for that building or part

iii. Means of waste  disposal for that building or part; or

iv. Access to that building or part, including the frontage thereof;

 

So let’s give you some examples of what we would and would not consider as costs.

 

​ACCEPTABLE COST ​UNACCEPTABLE COST
Construction work ​Purchase price of the land
​Architectural and appropriate fees ​Transfer duties
​Sidewalks ​Borrowing or financing
​Parking for the building ​Transfer or related costs
​Landscaping as part of the development
​Drainage
​Security (fences, cameras, surveillance equipment)
Last Updated: 14/12/2018 1:58 PM     print this page
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