Rental income - Inland Revenue

IR264. April 2018. Rental income Tax rules for people who rent out residential property and holiday homes. 2 Rental income . Introduction We've written this guide for people who rent out residential property or holiday homes. In it we explain: what income to include in your tax return the expenses you can deduct from this income for tax purposes the records you need to keep what to do if the property is owned by more than one person what happens if the property is sold. The guide is meant for people who own one or two Rental properties, and not in the business of providing residential Rental accommodation. If you have several Rental properties or you're a commercial operator we recommend you use a tax agent. Go to our website for information and to use our services and tools. Log in or register for myIR to manage your tax and entitlements online. Demonstrations - learn about our services by watching short videos. Get it done online - complete forms and returns, make payments, give us feedback.

Part 1 - General Rental income - which income is taxable? Normally income that you receive from renting out property will be liable for income tax, so you must include it in your tax return.

Tags:

  Income, Rental, Rental income

Information

Related search queries