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

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

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  1. Tim Kavanagh

    Tim Kavanagh Member

    Joined:
    22nd Mar, 2018
    Posts:
    8
    Location:
    Canberra ACT
    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
     
  2. Terry_w

    Terry_w Mortgage broker licenced 4 tax/legal advice Business Member

    Joined:
    18th Jun, 2015
    Posts:
    19,748
    Location:
    Remote
    no deductions unless there is income.

    if renting a room need to consider the CGT effects
     
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