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The cost base is the base price used as the reference point when calculating a CGT sale and any taxable profit. https://www.ato.gov.au/General/Capital-gains-tax/In-detail/Calculating-a-capital-gain-or-loss/What-is-the-cost-base-/ The higher the cost base the lower the CGT profit.

You know if you want you can NOT claim the negative gearing and this would add to your cost base. Just calculate each years rent less deductions and if that's a loss it adds to cost base with no need to amend. If ATO ever query it your explanation and supporting records should be fine. If its...

IT 2167 - about relatives and claiming deductions? About how the rent is assessable from a relative but deductions are reduced if its not market rates but fully allowed if it is. I don't see how its different.

I'm with Terry here. If it were a friend or relative couch surfing and he is throwing some $ into the pot for food and costs then its not rent. There would need to be some short term arrangement ie : University term, a month etc. That's board and lodging. But if its an advertised space, paid...