This petition was submitted during the 2019 to 2024 Parliament
Closed petition Make finance costs on rental properties an allowed expense
Closed on
Consider the finance cost paid as interest to a mortgage loan as a allowable expense and ensure it is not taxable. It is not a profit for the rental.
The income received from rentals are not fully owned as profits, they have been paid out to financial lenders as interest on mortgage loans.
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This petition will stay open until 6 June 2023.