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Tax problems on couple’s buy-to-let property

There is a possibility that, as currently drafted, the new income shifting provision could affect an individual who transfers ownership of half of a property together with the rent generated to a spouse or partner. If so, for tax purposes, all the rent will be taxed on the first individual. Under the new provisions the status of the couple is irrelevant.

 

 

Date: 9th January, 2008
Author: Cathy Corns

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