Gertie and Eddie are getting divorced. They have one jointly-owned asset – a rental property. It is currently worth $600,000 and has no mortgage on it. It has been decided that Eddie will obtain a mortgage for $300,000 and pay-out Gertie.Eddie has sought your

| November 30, 2018

Gertie and Eddie are getting divorced. They have one jointly-owned asset – a rental property. It is currently worth $600,000 and has no mortgage on it. It has been decided that Eddie will obtain a mortgage for $300,000 and pay-out Gertie.Eddie has sought your advice regarding the deductibility of the interest and borrowing expenses against the rental income.Research this problem. In presenting your argument provide any relevant sections, cases and rulings which may …

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