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@the_family_monastery The ETF itself has fees. The unit price is reduce by whatever percentage the fee is.

@daughteroftheking2016 FIF applies. Sucks huh?

@nafguy Based on OP’s response below. I don't think this is correct. If you'd reinvested the dividends sure. But holding cash in a foreign bank account is not a foreign investment.

@matthews49 I think that you can just split the return and each report half. Hopefully someone else knows the answer. But if your marginal tax rate was the same then I think it would be administratively easier for one of you to do it. Do you trust your wife? (Shawshank Ref)

@cburesearch I think so, but only part of it. It would depend on the apportionment.

@onthepathtogod My read it that it's excluded from the residential ring fencing if the seperate unit is smaller the main home, but it wouldn't be if OP was living in the separate unit and renting the main house.

@anxiousonthebrightside Just to be clear, I don't think you can apportion outdoor areas only floor space. Almost forgot to say, don't forget to depreciate your washing machines!

@anxiousonthebrightside Yes, you calculate the floor space as a total i.e. grandad's unit/grandad's unit+main house = percentage of the shared expenses that you can apportion. If you really wanted to push it, I'm pretty sure I saw the old fella in your kitchen making a cuppa then chilling out...

@onthepathtogod Bringing my other comment into this thread: Have a look at footnote 1 on para 11. "The deduction amount may be limited to the amount of income derived where a flatmate pays less than a market value rent (Case E54 (1982) 5 NZTC 59,312 (TRA)). However, these situations are outside...

@onthepathtogod Have a look at footnote 1 on para 11. "The deduction amount may be limited to the amount of income derived where a flatmate pays less than a market value rent (Case E54 (1982) 5 NZTC 59,312 (TRA)). However, these situations are outside the scope of this QWBA."

@terrenzio46 True, my understanding is that he would be limited to claim expenses to reflect the percentage of the market rate i.e. 50% of market rate then he would only be able to claim 50% of the expenses.

@docgfd Ah yep, seen. Althought it spits this back out at me "You cannot claim any losses from providing the boarding service" which is why flatmates is better if you're running at a loss.

@docgfd Thanks for the comment, I'm not sure I understand it though. You can't deduct expenses for the two non-boarders, only the two boarders so I'm not sure how you get to $41k? Or have I misunderstood. Otherwise I take your point, if your actual expense come out below the $222 pp p/w then...

@natalied The reply was too long, so I've updated the post to show our example. I think the table might have broken though?

@onthepathtogod 50% (apportioned to the rental income) of 100% of the interest

@natalied The key thing difference is that if you’re negatively geared you can reduce your taxable income and claim tax back.

@natalied Yep of course. I just did mine for the tax year ending today so I can l change some numbers. Will post later tonight.

@johnson29 I've provided an example that might help you. I've edited the original post.

@johnson29 The document that I linked has a bunch of good examples at the back. But here's a quick run down: For shared expenses i.e. mortgage interest, rates, and insurance: you calculate the floor space used to derive the rental income (100% for renter(s)-exclusive areas, 50% for shared...

@johnson29 You can claim tax back if you rent a room to a flatmate for less than it cost you.