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Edited version of your written advice
Authorisation Number: 1051424997072
Date of advice: 5 September 2018
Ruling
Subject: Rental deductions
Question
Can you claim the loan interest in relation to a loan in joint names to purchase a rental property, where only one name appears as the owner of the property on the title deed?
Answer
Yes. It is accepted that you are the legal owner of the rental property as Taxation Ruling TR 93/32.
This ruling applies for the following periods:
30 June 20XX
30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
You own an investment property in your name.
You are solely responsible for making decisions with respect to the investment property.
The bank loan is in joint names.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 8-1