Tax implications of receiving "rent" at PPOR

[Jom]

Hi

Quick question for those in the know...

If i receive money from a friend who will be living with me for a few months at my PPoR, does this become "taxible income" for ATOpurposes? The idea is really to simply to help offset costs of food/heating etc, but fear the tax office might not see it the same way and might consider it "rent".

Has anyone had experience with this issue, or can shed light on the issue?

Cheers
Jom

 

[Ski-bum]

I'm guessing it'll only be looked at by the ATO if you start claiming interest and other deductions as a proportion too. So as long as you don't do that, it wouldn't matter.

 

[skater]

Hi

Quick question for those in the know...

If i receive money from a friend who will be living with me for a few months at my PPoR, does this become "taxible income" for ATOpurposes? The idea is really to simply to help offset costs of food/heating etc, but fear the tax office might not see it the same way and might consider it "rent".

Has anyone had experience with this issue, or can shed light on the issue?

Cheers
Jom

This called board.

Board is where they give you a payment to offset costs etc.

Rent, on the other hand, is a payment that is declared along with the expenses.

 

[coastymike]

http://law.ato.gov.au/atolaw/view.htm?docid=ITR/IT2167/nat/ato/00001

have a read of paragraph 17

Payment by family members of an amount for "board and lodging"

17. Arrangements of this nature, whether the payment is said to be for board only or for lodging only or for both, are considered to be in the nature of domestic arrangements not giving rise to the derivation of assessable income by the recipient of the payments. It follows that the question of income tax deductions for losses and outgoings does not arise.