Married Couples Jointly owned property – expenses split

by [email protected]

7:55 AM, 9th April 2018, 8 years ago 2

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Landlord News

I am aware that income from property owned jointly by married couples needs to be split 50/50 for tax purposes (unless form 17 has been filed), but do expenses from jointly owned property also have to be split 50/50?

My situation is that I manage our 2 jointly owned rental properties, including paying the mortgage and covering all expenses.

Can I claim 100% of the expenses against my 50% share of the income?

Thanks to anyone who can help with this.

Sally

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Mark Alexander - Founder of Property118 Read Full Bio

Member Since January 2011 - Comments: 12255 - Articles: 1477

7:57 AM, 9th April 2018, About 8 years ago

Hi Sally

Have you considered forming a partnership so that you can allocate profits disproportionately to ownership?

Please see my latest article “The best tax structure for landlord newbies” – link below.

https://www.property118.com/best-tax-structure-landlord-newbies/

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Neil Patterson Read Full Bio

Member Since February 2011 - Comments: 3462 - Articles: 286

11:33 AM, 9th April 2018, About 8 years ago

Hi Sally,

If it’s a jointly owned property and joint income split 50/50 you can’t then unfortunately split the expenses differently.

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