Tax deductions on primary place of residence, opinions on renting out room or rooms

Discussion in 'Investment Strategy' started by 14463, 15th Jan, 2019.

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  1. 14463

    14463 Member

    Joined:
    22nd Mar, 2018
    Posts:
    14
    Hi guys,

    Looking to purchase our first PPOR in the ACT over the next couple of months.
    Might be a bit of a stupid question, but are there many, if any tax deductions on a primary place of residence? Another question linked to that - is it beneficial to rent out a room or rooms in a PPOR? Obviously the rental income would be great but is there anything I need to consider?

    Thanks
     
    14463, 15th Jan, 2019
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
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    no deductions unless there is income.

    if renting a room need to consider the CGT effects
     
    Terry_w, 15th Jan, 2019
    #2
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