Search results

Hi Rahul, Well the new labels in the tax returns from 2010 onwards seem to have cleared up any doubt on the ATO's position. It now clearly states in the ATO guide that joint owners of investments do get the benefit of deductions for eligibility for the co-contribution. Ironically, the...

Tenants in common is definitely not "joint ownership" within your meaning. Joint owners have equal and indivisible interests in the entire property In your case you will declare 99% of the income and claim 99% of the allowable deductions. However, your gross income will be used to...