Investment Property Tax calculation

jshubo

If an investment property's title is with husband name only, but the loan is on both husband/wife name.

On tax return for husband,
(1)should he claim the whole interest payment for the property or just half?
(2)should he claim the whole rental income for the property or just half?
(3)should he pay CGT on the whole property or just half?

The same question goes to wife as well.

Any expert advice is appreciated.

shofang

Whole husband

jeff_lawsons

ATO TR 93/32 confirms that rental income and expenses need to be declared in accordance with the legal ownership of the property, except in very limited circumstances where it can be shown that the equitable interest in the property is different from the legal title.

JohnnySu

Everything goes under the husband's name. Tax calculations are based on the title. The names on the loan is irrelevant.

stephenqiu

Husband