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Rental income of a jointly owned property

Posted 2 July 2015 under Tax Questions


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Blue says:
1 July 2015 at 21:30

My husband and I are married out of community of property but jointly own a flat that we rent out. When completing my provisional tax return do I include 50% of the income and expenses in mine and 50% in his return or do I include 100% in both our returns and then select the 50% partner option?

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TaxTimTaxTim says:
1 July 2015 at 22:32

Are you completing your final return or provisional return? This tax return season now is for final returns for the 2015 tax year.


Blue says:
2 July 2015 at 7:18

I am completing my provisional return for period 01 / 2016 due end Aug 2015. This is the first time that I have to complete a provisional return.


TaxTimTaxTim says:
2 July 2015 at 11:27

You would only include 50% of the incomes and expenses under the estimated taxable income section.


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