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Rental Property - 16 Flora Road, Charlestown NSW 2282. On 16 February 2004, Robyn purchased...

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Accounting

Rental Property - 16 Flora Road, Charlestown NSW 2282. On 16 February 2004, Robyn purchased a three-bedroom house in Charlestown in her own name at a cost of $205,000. Stamp duty and legal fees relating to this acquisition totalled $17,175 and were also paid on the same date. To finance the purchase of the rental property, Robyn borrowed $200,000 from NAB. The bank paid this money directly to the seller upon settlement of the property on 16 February 2004. Loan establishment fees, totaling $300, were charged to Robyn on this date. The term of the loan is 20 years. Robyn paid the remaining balance of $5,000 in cash from her own savings account to fund the acquisition of the property. Whats her taxable income on the rental property

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