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From: Michael Mudman
Let me get this straight. If I buy a dual occupancy residence (a house split into two flats), and rent one flat out and live in the other, I can claim 50% of all interest, depreciation, rates, insurance etc as a tax deduction.
Add to this, if I 'rent' half of my flat out to the wife at market rent, I can then claim a further 25% of the total costs as a tax deduction. So basically I have now purchased a place of residence that is 75% tax deductible???
Is this correct? (Thanks in advance).
Let me get this straight. If I buy a dual occupancy residence (a house split into two flats), and rent one flat out and live in the other, I can claim 50% of all interest, depreciation, rates, insurance etc as a tax deduction.
Add to this, if I 'rent' half of my flat out to the wife at market rent, I can then claim a further 25% of the total costs as a tax deduction. So basically I have now purchased a place of residence that is 75% tax deductible???
Is this correct? (Thanks in advance).
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