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When property is jointly owned, the way rental income and capital gains are taxed depends on the ownership structure. Income Tax on Rental Income Joint Tenants (50/50 split) – Income is automatically split equally between owners, regardless of actual contributions. Tenants in Common – Income is taxed based on ownership shares, which can be unequal. […]

While being a sole trader offers many benefits, such as simplicity and control, there are also some notable disadvantages. Here’s a breakdown of the key challenges you may face: 1. Unlimited Liability As a sole trader, you are personally liable for any debts or financial losses incurred by your business. This means your personal assets—such