A friend at work has fully purchased an IP and pays all the outgoings and recieves all the rent into her bank account but needed some equity from her ex partner so they are TIC 50/50. (in response she gave him the house they lived in before they split hence why he agreed to the 50/50 split)
Can the ex-parter claim 50% of the loss (negative gearing) on his tax return if the lease does not mention his name and he has no proof of any money recieved or expenses paid? If not, can she claim 100% anyway and not be fined even if he is planning to claim 50% by guessing these expenses?
Can the ex-parter claim 50% of the loss (negative gearing) on his tax return if the lease does not mention his name and he has no proof of any money recieved or expenses paid? If not, can she claim 100% anyway and not be fined even if he is planning to claim 50% by guessing these expenses?