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Damn I did not think that would be the case. Thanks for the info.

Just bumping this old thread because a tenant is moving in Tuesday. If the tenant pays $200 each week for example, what's to stop me at tax time saying that only $150 of that is rent, and $50 is for bills? I would assume money received for splitting bills is NOT classified as income, so it...

I settled on it September 30th. If you think there's likely to be value there then perhaps we should have a longer discussion when I get a tenant in. I assume a depreciation schedule would identify all the plausible deductions?

Thanks for the link

Even in a small (99m2 including courtyard) 1960's 2 bedroom unit?

As the title suggests, what are the tax implications of renting out the spare bedroom in my PPOR? I assume: Rental income taxed at my marginal rate Partial deductions for home repairs (e.g. to replace faulty hot water system I might get deductions on 50% of overall cost) Are those...