From: Rae B
Hi all,
Just a quick question which I am having difficulties finding the answers for.
I recently bought an IP and had it rented out for a couple of months prior to moving in to renovate it.
I currently rent out half the house to a friend. This is our baptism into buying and renovating for profit. We are going to go into the IP renovating business next year, so are using this place to see how much stuff we can do ourselves.
My question is: Can I claim deductions for a portion of the house which is rented, and if so, what percentage? Also, is there any writings on doing this?
Your help is appreciated.
Rae : )
Hi all,
Just a quick question which I am having difficulties finding the answers for.
I recently bought an IP and had it rented out for a couple of months prior to moving in to renovate it.
I currently rent out half the house to a friend. This is our baptism into buying and renovating for profit. We are going to go into the IP renovating business next year, so are using this place to see how much stuff we can do ourselves.
My question is: Can I claim deductions for a portion of the house which is rented, and if so, what percentage? Also, is there any writings on doing this?
Your help is appreciated.
Rae : )
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