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How can we claim bond interest from rental income when married out of COP?

Posted 14 April 2016 under Tax Questions



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John says:
13 April 2016 at 12:27

My wife and I are married out of COP (ANC with accrual). My wife owns an unbonded property that she lets. This means she has a lease agreement with the tenants, although they pay their rent into my account. I own the property that we reside in, which is bonded. The nett effect is that we receive rental income and pay bond interest, albeit on different properties. I would like to be able to claim the bond interest from my wife's taxable income. In order to do so, I assume we need to take out a bond on the rented property. Does it matter (a) in whose name the bond is, (b) from whose bank account the bond repayment is made, and (c) into whose account the rent is paid into?

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TaxTimTaxTim says:
14 April 2016 at 9:25

Unfortunately as there is no actual expenses for interest relating to the rental income, regardless of your marital status, then nothing can be claimed against the income earned.


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