Hi everyone,
Wonder if someone comes across this and can give some advice:
I have a residential tenant who uses part of the property (garage) as a storage space for their material and gear for their private business.
So my questions are:
Thanks and appreciate your advice.
Eddie
Wonder if someone comes across this and can give some advice:
I have a residential tenant who uses part of the property (garage) as a storage space for their material and gear for their private business.
So my questions are:
- Can I consider the interest (in a proportion based on the area of the garage over the overall house) as an expense?
- Any reference on IRD how the tax deduction rule should be applied for this scenario?
- Will that affect my premium of the insurance for the my rental? Should the tenant be responsible for the addition of the premium?
Thanks and appreciate your advice.
Eddie
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