Tax deductions when renting out room in PPOR

Discussion in 'Accounting & Tax' started by fleathedog, 13th Jul, 2016.

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  1. BMT Tax Depreciation

    BMT Tax Depreciation Chris Business Member

    Joined:
    22nd Jun, 2015
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    361
    Location:
    Australia
    Well said.

    There are a few occasions where we tell prospective clients to seek further financial/accounting advice before pursuing things with us further, and very short ownership periods are one of them.
     
  2. New Town

    New Town Well-Known Member

    Joined:
    8th Sep, 2015
    Posts:
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    Location:
    QLD & NSW
    If you rent out a room or two you must think of your house or unit as an investment property. The tax laws that apply to an investment property will apply to your house, just in proportion of the area rented. ie 1/3rd for one room rented in a 3 bedroom house

    It would be far far easier to get cash in hand. But that's not legal