Hi,
I need clarification..
If I'm a private individual with one IP.. (1) is the total rent for the year added to my earned income - then taxed at the marginal rate?...or
(2) is it assessed seperately..ie income less expenses..in a seperate tax return?
What is the rate of tax on rental income?...if scenario two applies?
Thanking you..
I need clarification..
If I'm a private individual with one IP.. (1) is the total rent for the year added to my earned income - then taxed at the marginal rate?...or
(2) is it assessed seperately..ie income less expenses..in a seperate tax return?
What is the rate of tax on rental income?...if scenario two applies?
Thanking you..