Joint ownership & tax returns

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S
Sully
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I'm new to being a landlord (from Aug last year) and submitting tax returns -I'm now looking at doing this for last year and what exactly is involved.

I was just reading an article in RLA about property ownership and it mentioned that if the property is jointly owned "the income has to be shared in the correct way" (50/50).

Does this then mean that my wife and I both have to submit tax returns? I was hoping to just do the one for myself but it looks like it might not be that simple? We only have the one property.

I'd appreciate some advice as to what the required process is.

Thank you.

23/07/2011 00:00

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