Quizzes & Puzzles58 mins ago
Tax evasion?
Just wondered on this one.
A friend has a property they let out. I think they have had it for about 6 yrs and have always made a loss. They are looking at selling and making a profit that way in a few years.
Should htey do a tax return? I remember a couple of years ago he said he had a form from the tam man and when he filled it in there was a question about rental property. Because he didn't make a profit he put no by it?
I recon he should do a tax return but he says as he hasn't made a profit he doesn't need to.
A friend has a property they let out. I think they have had it for about 6 yrs and have always made a loss. They are looking at selling and making a profit that way in a few years.
Should htey do a tax return? I remember a couple of years ago he said he had a form from the tam man and when he filled it in there was a question about rental property. Because he didn't make a profit he put no by it?
I recon he should do a tax return but he says as he hasn't made a profit he doesn't need to.
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