Tax on Rental

[Wendy]

We have read the article on black lions page.
We pay taxes every year to Ali Tunc.

What is the personal allowance?

I have in mind that you can claim for four things
Electric
Water
Maintenance
One other which I can't remember.

Any other input welcome!

Wendy x

Linkback: https://www.enjoykalkan.com/forum/index.php?topic=12448.0

[Anne]

Hi

If Ali Tunc is doing your return I would have no doubt he has included the personal allowance for you.  You deduct this amount from your gross rental income and then deduct expenses, either actual or a 25% allowance, whichever way you are doing it. you are then taxed at 15% normally on the remainder. (20% over a certain figure which I can't remember). Last year the personal allowance was 3200 lira.  When we used Ali Tunc he used the 25% deduction method.