Hi, If I have 100% legal ownership of my house and renting 50% of my house out, using the other half myself. When lodging the tax return for my rental income, Do I put 100% in the ownership percentage, and enter the whole amount of income received but only 50% of the property-related expense (rates/interests/house insurance)?
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Yes
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Yes
Its similar to an example we have on our website for Thomas. Although it only talks about interest deductions, you'll treat other eligible deductions the same.
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