SearchWorking out tax
David asks:
(updated on Wednesday, September 04th 2019)
I'm just wondering how I would work out tax payable on my property? I am living in the three bedroom house at the front and renting the self contained one bedroom unit at the back. Would I split the it by the total coverage on the property or 75/25 percentage based on number of rooms?
Our Experts Answer:
I think the better means of apportioning the expenditure incurred in relation to the property would be by looking at the relative total areas, rather than the number of bedrooms. I think this would be a more reasonable basis for allocating expenditure like interest, insurance, and rates etc.
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