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Income loss on a second property

Posted 3 July 2015

KL says:
3 July 2015 at 6:39

I have a second property and have family living there who do not pay rent. I incur the expenses for levies, rates and taxes etc. Can I off-set this loss against my other income or is this not possible because I have family living there?

TaxTim TaxTim says:
3 July 2015 at 8:17

Unfortunately not as you are not actually renting out the apartment and therefore there is no trade event happening where you are trying to earn income.

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