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My partner and I live together in my PPOR. The house is in my name but we both contribute to the mortgage payments which are in the form of a loan from my parents. We both pay the mortgage payments directly into the loan account.

Just wondering if the money he contributes is counted as taxable income? Could you break this down for me please?

Best,

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7 years ago

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Suresh Rajani

Current Rating: 4.6 / 5

Accountant

Parramatta, NSW

7 years ago

Hi Jack

There is no taxable income here.

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Jack F.

Thanks mate appreciate the response

Scott Howell

Current Rating: 4.85 / 5

Finance Broker

Croydon South, VIC

7 years ago

Hi Jack,
The only consideration for income tax is possibly any interest earned by your parents. You wouldn't have any taxable income from that structure
Cheers
Scott

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