Can we claim the property on tax as an investment if we are receiving no rent?

Q.

We are considering buying a property 50/50 with my dad, who can't afford it on his own. For us it would be an investment property, for dad it would be his place. Can you give us some advice on how we might arrange this? Can we claim it on tax as an investment if we are receiving no rent, or should dad 'pay' us his share of the mortgage as 'rent'?

I am assuming he will be taking a mortgage for his share and you will be taking a separate mortgage for yours. If that is the case he should be trying to pay his share back as soon as possible to get rid of the liability but you should be aware that he will have to pay a market rent if you are to claim the costs of your half share as a tax deduction. The rents will be assessable income. You should make sure you take legal advice to prevent possible problems with other family members in the future.