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Re: Investment property title+bank loan in joint names,can he put all income and expenses 100% in 1

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Newbie

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Hi all, we're a couple.Our Investment property is in joint names, bank loan is in joint names, but all income in to and pay out from 1 his bank account. Question : is he able to claim the full interest expenses and put all income tax purposes only in 1 his name ? I meant we have 50% share title and home loan ,but when he do tax return, can he put all income and expenses 100% in 1 name and the other name has no rent invesment property ? Any thoughts are appreciated?  Cheers.

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Taxicorn

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@langtu9 

 

No sorry, the title is in both names so both names need to declare the income and expenses 50/50in their tax returns.

 

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Most helpful response

Taxicorn

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@langtu9 

 

No sorry, the title is in both names so both names need to declare the income and expenses 50/50in their tax returns.