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Cazi, I'll flick pass this one to your accountant :)

Your son + other renters pay you rent which is your income. If you susidise your son's living expenses (which might include his rent money) then that is a private expense to you. As BAs we buy a lot of 'rent-by-the-room' IPs for investors seeking high yields near Universities. The are REAs that...

Yes, you have to charge him market rent to be able to claim 100% of the tax deductions available to you - such as loan interest, mtce fees, rates, depreciation etc. Otherwise you are not entitled to the full expenses you incur. very funny :D haha....... NO Yes, you have income from your son &...