C
Ciatie
Guest
I recently decided to take a few years break from my career to spend time with my young children. I'm thinking of investing in an investment property (in my name and as a registered landlord) and have a few questions.
1) Can I claim the rent as my own income?
2) How will I be taxed on the income as we're jointly assessed? What is the position on the tax rates and tax bands? Is it still 38,400 @ 20% Balance @ 42% or can we claim 38,400 @ 20% with increase of 20,400 max. Balance @ 42% with the rental income counted as my income?
Thanks
Ciatie
1) Can I claim the rent as my own income?
2) How will I be taxed on the income as we're jointly assessed? What is the position on the tax rates and tax bands? Is it still 38,400 @ 20% Balance @ 42% or can we claim 38,400 @ 20% with increase of 20,400 max. Balance @ 42% with the rental income counted as my income?
Thanks
Ciatie