F finbar Registered User Messages 162 25 Sep 2009 #1 In the last budget the amount of interest you could write off against rent has been reduced to 75%. I am currently filling out form 12 for the 2008 return. Is the 2008 return based on the old system ie 100% write off oe the new system 75 % ?
In the last budget the amount of interest you could write off against rent has been reduced to 75%. I am currently filling out form 12 for the 2008 return. Is the 2008 return based on the old system ie 100% write off oe the new system 75 % ?
P paulpd Registered User Messages 121 25 Sep 2009 #2 100% of the interest is allowed for 2008 rental profit computation.(Assuming 100% of the loan was used for the rented property in question).
100% of the interest is allowed for 2008 rental profit computation.(Assuming 100% of the loan was used for the rented property in question).