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negative gearing for half of the rent during Covid

Newbie

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Replies 2

Hello,

I have halfed of the rent from tenent from Feb because of Covid (they haven't asked this but I do this in order to support them).

Now is the tax return time.

Could I still claim for negative gearing during this period?

 

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Devotee

Replies 0

Assuming your tenant isn't a related party - yes.

 

if it is, then probably, but it's possible that because you weren't forced to they ATO could deny it.

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Most helpful response

Devotee

Replies 0

Assuming your tenant isn't a related party - yes.

 

if it is, then probably, but it's possible that because you weren't forced to they ATO could deny it.

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Community Support

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Hi @myquestions 

 

Thanks for your post.

 

Based on what you have said, If you decide to reduce the rent to enable your tenants to remain in the property (thereby maximising your rental return in a changed rental market), your deduction for rental property expenses will not be reduced.

 

Here is some frequently asked questions on Residential rental properties you may also find helpful.

 

Thanks

JoA