Rent income for shared property owned by my wife and me?
Posted 18 September 2014
Our property (including a garden flat) is owned 50/50 by my wife and I. We stay in the house (primary residence). How do we declare the Rent Income from the garden flat - just divide it in half for each person (including the applicable deductible expenses e.g. electricity)?
TaxTim Marc said: 23 September 2014 at 9:14
Yes, you would declare half the income and expenses and your wife would do the same on her return.