AskGuru Q&A Community

Make confident property decisions with advice from our experts

Asked by
My family recently bought a shophouse for investment at rm 1.7m, in selangor. The loan repayment is under my 2 children, but there are 3 names in the loan agreement.
Under whose name shld we declare to the income tax or shld all 3 of us have to declare, and how do i go about it for rental received? Any other things I need to know? Kindly advise me, I am a snr. citizen. Tq.
0 •
1020 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

2 Answers

<en>Yuki</en> <en>Sit</en>
Replied
Your question is a bit confusing. Who is the owner will declare the tax thingy for the rental. Participant for the loan agreement has nothing to do with the tax declaration. You can confirm with the LHDN officer on this matter as well. He/she has no ownership or interest in the property.He/she is merely adding the name as either guarantor or joint borrower to get the loan approved by the bank. Read More
0
Upvote Upvoted
<en>Yuki</en> <en>Sit</en>
Replied

Still looking for answers?

Get advice from our community of experts

Ask Your Question
Previously Asked Questions