Hi,
I have a joint mortgage with a friend on a house from a few years back. We both lived there. I'm moving out and we have agreed that he will pay the mortgage and management fees and we'll retain at 50:50 share of the place
Just wondering how this works tax wise.
Will it mean that half of what he pays will become "rental income" for me?
I have a joint mortgage with a friend on a house from a few years back. We both lived there. I'm moving out and we have agreed that he will pay the mortgage and management fees and we'll retain at 50:50 share of the place
Just wondering how this works tax wise.
Will it mean that half of what he pays will become "rental income" for me?