Yep, so I agree with your accountant then. I guess this situation is similar to buying a beach house and loaning it to friends rent free. We have a beach house and when we sell it we will have to pay CGT if we make a profit. So anything we spend now we will use to reduce our base. But in SA, still have to pay Land Tax though - but then our state government cant stand not getting into our wallets, greedy that they are. And these taxes were supposed to be abolished with GST!
I think with the Fraud thing comes when there is actually money changing hands, but I guess if there is no rental agreement in place it cant be tracked?
I think with the Fraud thing comes when there is actually money changing hands, but I guess if there is no rental agreement in place it cant be tracked?