Co-ownership of property with definite shares: income taxed separately to each co-owner, relief applied individually. Co-owners with definite and ascertainable shares shall not be assessed as an association of persons; each co-owner's respective share of income from the ... Summary
Co-ownership of property with definite shares: income taxed separately to each co-owner, relief applied individually.
Co-owners with definite and ascertainable shares shall not be assessed as an association of persons; each co-owner's respective share of income from the property is computed separately and included in their total income, and the relief under section 21(6) is provided as if each co-owner is individually entitled to it.
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