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shed rent, tax deductable?

Discussion in 'Accounting & Tax' started by Timkot, 28th Mar, 2016.

  1. Timkot

    Timkot Member

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    28th Jul, 2015
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    gladstone
    Hi I have a vacant block of residential land, that has a 9x9 shed on it. If I was renting that shed out for 50 bucks a week to someone, does that make the whole block claimable on tax much like a house, negative gearing.

    thanks
     
  2. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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  3. Terry_w

    Terry_w Well-Known Member Business Member

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    It all depends.
     
  4. legallyblonde

    legallyblonde Well-Known Member

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    They might be renting the shed, but just make sure the lease is inclusive of the whole property. Then I wouldn't imagine that you would have many issues. If they only want to use the shed... Doesn't matter.
     
  5. Timkot

    Timkot Member

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    28th Jul, 2015
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    Location:
    gladstone
    Thanks folks, gives me somewhere to go