B
belinda
Guest
Hi, I'm new to this board, so forgive me if anyone has asked this question before, though I did search and couldn't find any reference to the query I have.
My question is
If I invest in a property in USA, can I offset the Property Tax charges as an expense against my rental income - in other words declare it as tax deductable?
On reading through the revenues 'guide to rental income' they seem to indicate that 'rates' and 'refuse collection charges' are considered as expenses and as such are deductable.. so are 'property taxes' in the USA considered as rates? (did ring revenue on this, but no definitive answer.. and they suggested I put my query in writing tsk!).
Secondly.. I note that the revenue in USA seem to allow you as a landlord to declare the Property Tax as an expense/tax deductable... so how will that work with the double taxation agreement?
Thanks
My question is
If I invest in a property in USA, can I offset the Property Tax charges as an expense against my rental income - in other words declare it as tax deductable?
On reading through the revenues 'guide to rental income' they seem to indicate that 'rates' and 'refuse collection charges' are considered as expenses and as such are deductable.. so are 'property taxes' in the USA considered as rates? (did ring revenue on this, but no definitive answer.. and they suggested I put my query in writing tsk!).
Secondly.. I note that the revenue in USA seem to allow you as a landlord to declare the Property Tax as an expense/tax deductable... so how will that work with the double taxation agreement?
Thanks