Hi, this is my first post, so please forgive me if I've posted in the wrong place! OH and I are considering trying to purchase our first IP and are finding it quite scary!! We have two sons at uni paying rent and will have a third joining them shortly (not all in the same city's so they can't share!!) We want to buy an IP probably 2/3 bedroom in Melbourne that one of our sons could have a room in and we would rent out the other. Could anyone tell me where we stand tax wise on this with the ATO. Do we have to charge our son rent (which we will probably pay anyway!) or do they not worry if you are renting to family. If he does pay rent can we claim it as income against out tax? It will be a negative gearing property I'm sure.