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Go Matilda - Your Gateway to Australia The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum Non-Resident Landlords Scheme
The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum Non-Resident Landlords Scheme|
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Does anyone know .... when renting out your UK property as a non-resident, if the entire monthly repayment of a repayment mortgage is a deductable expense when paying tax. I've read the literature and it suggests you can only deduct the portion of the repayment which is the interest on the mortgage. However I emailed the inland revenue and had a reply that the whole lot was a reasonable deduction, this is great if correct but I think it may be too good to be true....does any one know ??
Matt |
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In short, only the interest component is deductible.
However, if you are in Australia you may also be able to claim depreciation as an additional deduction in computing the amount that is assessable in Australia. Best regards. Alan Collett alan-at-gomatilda-dot-com Registered Migration Agent Number 0102534 Fellow of the Institute of Chartered Accountants in England and Wales Member of the Institute of Chartered Accountants in Australia http://www.gomatilda.com and http://www.collettandco.co.uk Offices in Southampton - England; Melbourne, Perth, Brisbane, and Geelong - Australia |
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Go Matilda - Your Gateway to Australia The Go Matilda Forums The Go Matilda Forums The Tax and Money Forum Non-Resident Landlords Scheme
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