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Finance Message Boards

Tax 2008

Re:Is my house a rental?

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By: ecchi.gaijin
23/02/2009
2:54 pm

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  ecchi.gaijin

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Re:Is my house a rental? Reply to this message
As long as it is commerical in nature then you should be ok. That is to say if you are charging within reason of a market rate. If you are not living there you can possibly maintain it as your principle residence for up to 6 years without any CGT issues. But if you do live there from time to time it might be hard to argue it is a commerical relationship as most 3rd party tenants wouldn't allow that.

By: rvrraft
23/02/2009
6:30 am

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Is my house a rental? Reply to this message
I am receiving incoming from family members to stay in my home to offset my mortgage. It's temporary, and i don't really stay at the house. I do have my things there and stay mostly at my girfriend's house. I am trying to decide whether to claim the "rent" they pay me as income and call it a rental. Not sure where that bright line is.
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