Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 Rental Income Tax, Rental Income Tax

views
     
Ah SiAnG
post Aug 30 2017, 07:52 PM

Getting Started
**
Junior Member
278 posts

Joined: Mar 2009
QUOTE(csbong87 @ Aug 30 2017, 04:57 PM)
Rent = 1000

Bank loan can be included as expenses ?

ex. (Maintenance Fee, quit rent, Indah water, Repairs, Bank Loan)

BL (500) + MF, QR, IW, Repairs (300) = left 200

The 200 to be taxed only ? or no such thing as include bank loan for tax deduction ?
*
Only interest paid on loan taken to finance the purchase of real property which is rented out is deductible.
Ah SiAnG
post Mar 4 2018, 11:22 AM

Getting Started
**
Junior Member
278 posts

Joined: Mar 2009
QUOTE(silverwave @ Mar 4 2018, 11:19 AM)
Hi, this interest mentioned, is it the loan interest while the property is being rented or while the project is being developed?

I have a condo that is being rented and my understanding was rental income - expenses (maintenance, repairs, etc) = taxable figure
*
To my understanding it is loan interest paid during that particular year of assessment while the property is being rented.

You can't be renting out a property while the project is being developed right? Without Certificate of Completion and Compliance.

Please refer to Public Ruling No. 4/2011 Income from Letting of Real Property issued by IRB.


This post has been edited by Ah SiAnG: Mar 4 2018, 11:28 AM
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0166sec    0.38    6 queries    GZIP Disabled
Time is now: 4th December 2025 - 05:48 PM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.