Joint ownership of Vacation property

I'm interested in purchasing a vacation property on the Sunshine Coast. This is a lifestyle investment and I intend to only use it for 6 months of the year - April to September. It occurs to me that there may be parties interested in only using the property for the warmer months ie October to March. I would be like to hear from anyone that would consider such an arrangement. Apologies if this is not the correct forum for such a topic. Thanks

 

If you are prepared to forego Easter and the Qld September school holidays, you may consider holiday letting over the prime summer months when rental prices are at their highest.

Friends in Melbourne bought a unit at Kingscliff in northern nsw to escape the Victorian winter. This is what they do.
Marg

 

Take care - Some say "just apportion costs"'....I have seen the ATO disallow deductions when people do that. eg Rented out except for 10 weeks over XMas and NY + 2 weeks Easter + 2 weeks school hols.

ATO says the non-rental periods are low rent so the allowed deductions are non-linear v's the non-rental in peak periods. They disallow deduction loss to the extent of actual rent. Taxpayer cant suitably prove otherwise so objection gets nowhere and on appeal the Commissioner has a strong case.

However if its the other way about and you want to declare income for the peak periods and use in the low season then I have never seen the ATO oppose the non-linear issue which works against the taxpayer.

 

This is how it works for Melbourne friends mentioned above. The unit is rented for the September school holidays, all over Christmas and Easter. They only use it during winter, the low season for holiday rentals.
No idea of their tax situation.
Marg