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Loss with expenses exceeding income

Posted 25 July 2015 under Tax Questions



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Joe says:
24 July 2015 at 8:25

Started as estate agent. Have incured training and other costs which exceeds my income. I also have rental income. How do I treat / tax man will treat the loss from the estate agency job?

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TaxTimTaxTim says:
24 July 2015 at 8:44

Do you receive commission or a salary from the agency?


Joe says:
24 July 2015 at 9:23

Commission


TaxTimTaxTim says:
25 July 2015 at 14:33

Unless you ring fence your rental income the losses will be offset against this which should reduce your overall tax owing.


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