Renting to mates,But living there aswell!

[lizzie]

From the other replies I'd change my tack and say go down the "board" path rather than renting - CGT and all that.

However, you still need to keep everything clear and clean - rules, regs and receipts.

 

[george72]

It's my understanding that many people don't declare the income and just handle it by dealing with cash which is illegal. I went to a property seminar held by the ato and according to the speaker you would need to treat 1/3 of the property as an investment for each person.

 

[jaycee]

yeah george, this is what people have been discussion about renting / baording etc and keeping it all above board.