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Sophia owns and rents out a holiday home in Umhlange, Durban. She incurs the following expenses on this property: Rates and taxes of R80 000,
Sophia owns and rents out a holiday home in Umhlange, Durban. She incurs the following expenses on this property: Rates and taxes of R80 000, agent's fees of R20 000 and repairs of R14 000. These expenses will be deducted in full as they meet the definition of gross income. Select one: True False
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