If a property belongs to A & B as stated in the Sales and Purchase Agreement, but only A is stated in the rental agreement as the landlord, would the rental income only be declared as A’s income?

  • August 19, 2024
  • Reading Time: < 1 minute
If a property belongs to A & B as stated in the Sales and Purchase Agreement, but only A is stated in the rental agreement as the landlord, would the rental income only be declared as A’s income?

No, if the property is owned by both A & B, the rental income is considered as income for both A & B.

If a property belongs to an individual, but the loan is under a company’s name. Would the rental income be reported under the individual’s income tax?

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