TAX QUESTIONS? YOU ASK LAH!

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Q: If we rent out our shop lot for only 5 months, are we able to claim the interest expenses on loan for the whole year as a direct expense against the rental income?

A: If this is your first time renting out the shop lot, you can only claim the interest expenses on loan from the date the rental commences as a direct expense against the rental income. 


Wishing you plentiful tax savings!

Zen Chow

YYC Tax Guru

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