Hi,
Just wondering if husband and I purchase a property under Joint Tenants with OH, at tax time do you only claim 50% of the costs on each of our tax returns.
I understand if we had Tenants in Common and I had a nominated 75% and OH 25% then this would also be reflected at tax time. This IP property will be neutrally geared if not slightly positive. I am the lesser earner as I work part time and will be for the next possibly 7 years. However we intend on keeping this long term.
Thanks
Just wondering if husband and I purchase a property under Joint Tenants with OH, at tax time do you only claim 50% of the costs on each of our tax returns.
I understand if we had Tenants in Common and I had a nominated 75% and OH 25% then this would also be reflected at tax time. This IP property will be neutrally geared if not slightly positive. I am the lesser earner as I work part time and will be for the next possibly 7 years. However we intend on keeping this long term.
Thanks