All Topics / The Treasure Chest / Tax on Rent

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  • Profile photo of claire_2claire_2
    Participant
    @claire_2
    Join Date: 2003
    Post Count: 3
    September 10, 2003 - 1:28 pm

    I’m new to all of this and after reading Steve’s book just wondered if you had to pay any tax if you worked and also earnt +ve cash flow via rent??

    jtdc.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 10, 2003 - 1:53 pm

    Of course. You would have to pay tax on your profits (income minus expenses), this would be added on top of your other income. If this figure is negative it reduces the amount of tax you pay, but if positive, then you will pay more tax.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of claire_2claire_2
    Participant
    @claire_2
    Join Date: 2003
    Post Count: 3
    September 10, 2003 - 1:55 pm

    Thanks Terryw,

    I only just finished the book and I know it was an obvious answer but I just thought I’d better check. Very new to this!!

    Thanks again,
    Claire.

    jtdc.

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