Question about tax on rental income, Negative cashflow
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 Apr 4 2016, 10:13 PM
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#1
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Staff
25,802 posts Joined: Jan 2003 From: Penang  
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Negative cashflow /= don't need to pay income tax.
Rental taxable profit is counted based on Rental profit = rental income received - expenses related which including mortgages interest but not mortgages principal repayment itself. |
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Apr 5 2016, 08:02 AM
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#2
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(IceQTurbo @ Apr 4 2016, 11:02 PM) How do we usually split the interest portion out from loan? Isn't it chargeable if to request from bank? Your bank statement does show one, how much the monthly repayment goes to principal, how much goes to pay the interest. |
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