http://akhiat.com/2010/04/16/commonly-forgotten-tax-reliefs/ Spiritual, Psychological, Health, Family and Financial Tue, 07 Jun 2011 15:53:04 +0000 hourly 1 http://wordpress.com/ http://akhiat.com/2010/04/16/commonly-forgotten-tax-reliefs/#comment-10 Sat, 17 Apr 2010 10:02:24 +0000 http://akhiat.com/?p=133#comment-10 [...] Some people are not aware that there are allowable expenses that can be deducted from the Gross Rent to save tax. Some deductible expenses include: a) Interest paid on the loan or mortgage taken to purchase the property which is rented out. b) Property tax c) Fire insurance d) Repairs done to restore the property to its original state e) Cost of maintaining the property (e.g. painting, pest control, monthly maintenance charges to management corporations) f) Agent’s commission, advertising, legal expenses for getting subsequent tenants Read more… [...]

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