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JTM(Initiate)Initiate
31 July 2024

Hi There,

Could I ask about investment property tax return. An investment property has a contact of sale and land title under a husband name but mortgage loan is under husband and wife. Should we delcare the property rental tax return in both the husband and the wife's tax return or only the husband' s tax return.

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Taxduck(Taxicorn)Taxicorn
31 July 2024

Rental income and expenses are apportioned according to the legal ownership of the property as shown on the title. See link

Rental income you must declare | Australian Taxation Office (ato.gov.au)

JTM(Initiate)Initiate
31 July 2024

Further question, the mortgage loan is under both names ( husband and wife). Is this mean we claim only 50% of interest expenses to the husband?

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property tax return | ATO Community