Q：
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How can I get deduction of mortgage interest payments from rental income?
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A：
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Deduction for mortgage interests can only be claimed under Personal Assessment. You will only get deductions for rates paid by you and a 20% allowance for repairs and outgoings if you are charged to Property Tax.
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Q：
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To be eligible to Personal Assessment, what criteria should be satisfied?
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A：
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The following criteria should be satisfied:
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18 years old or over, or under that age if parents are dead; and
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Either ordinarily resident in Hong Kong or a temporary resident.
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Q：
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Does it mean I cannot claim the said deduction from rental income if I am not eligible to make an election for Personal Assessment?
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A：
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Yes, that is correct.
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Q：
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My mother and I are the joint owners of a property, but every dollar of rent went to my mother. Can the full amount of net assessable value be assessed as her income?
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A：
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No, the net assessable value must be apportioned equally between you and your mother.
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Q：
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What amount of mortgage interest deduction can I claim if the interest is wholly paid by me but the rent-out property is co-owned by me and my mum?
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A：
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The amount allowable for deduction will be half of the interest you paid.
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