QUOTE(Ah SiAnG @ Mar 4 2018, 11:22 AM)
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.
I'm very new to property but there is a period when the loan gradually starts according to the progress of the property right? May be with DIBS many didn't have to pay. Or my understanding is wrong
Looking at it at a glance but i have not read through fully.
Just had 3 questions in my mind:
1) If the unit is not tenanted, put 0 or leave it blank while filing the tax? My unit was vacant for a year few years back.
2) Usually the bank interest is high during the first few years, assuming the statutory income from rental is a negative number after all the deductions, put 0?
3) I've not declared the first year income from rental, if i want to declare, what are the steps?
Thanks.