If a rental property is in joint ownership but one of the owners has a loan for purchase of the property and has paid interest for the whole year, will the claim be divided between the owners or the one who has the loan will claim it?
It is usually the case that income and expenses are divided equally for joint owners. Certainly if the joint owners are related (spouse, family member) then the interest would be divided between them. If you are interested in tax rulings see this link. (from point 41 onwards and example 4 and 5)
It is usually the case that income and expenses are divided equally for joint owners. Certainly if the joint owners are related (spouse, family member) then the interest would be divided between them. If you are interested in tax rulings see this link. (from point 41 onwards and example 4 and 5)
https://www.ato.gov.au/law/view/pdf/pbr/tr1993-032.pdf
@Taxduck Thanks for replying.
21 May 2026 · 4 min read time
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