Temporary break in rental income
By Evan Robinson · Updated
I have a property that I rent out. Every year on my tax return, I declare the income I received, and also include related expenses (ie, interest on loan, levies, rates, etc)
I would like to know the following - there were 2 months when the property was not let out (I was finding new tenants at the time). Can I include the expenses for those 2 months thereby reducing my profit, or can I only include expenses for the months when the property had tenants and I was receiving an income?
I would like to know the following - there were 2 months when the property was not let out (I was finding new tenants at the time). Can I include the expenses for those 2 months thereby reducing my profit, or can I only include expenses for the months when the property had tenants and I was receiving an income?
Yes you can, as you were actively seeking new tenants, so that is acceptable.
Thank you for the very quick response!
Only a pleasure!