As an AI language model, I cannot act as a lawyer or provide legal advice. It is advisable to seek advice from a licensed attorney in your jurisdiction for detailed and accurate legal advice based on the specific facts and circumstances of your situation.
However, in general, rental income is generally subject to tax in most jurisdictions. The exact rate and manner of taxation may vary depending on various factors such as the type of property, the amount of income, and deductions available. It is important to keep accurate records of all rental income and expenses to accurately determine tax liability.
It is recommended to consult with a licensed tax professional or accountant for advice regarding taxation of rental income in your specific circumstances. They can assist in identifying any potential deductions or credits that may be available to reduce tax liability and can help prepare and file tax returns to ensure compliance with all relevant tax laws.
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