When you own a commercial property in QLD and ask the tenant to pay a security deposit (like a bond) for 3 month's rent how is it treated? By that I mean, do you need to lodge it with a government organisation like residential investment properties where tenants pay a bond, or do you need to set up a trust bank account for it or can you simply bank it in your own bank account.
I am aware that in some states there are rules for this but I can't find anything for QLD.
Thanks.
I am aware that in some states there are rules for this but I can't find anything for QLD.
Thanks.