Tax treatment of renting rooms to flatmates in your primary residence? Claiming tax back.

[anxiousonthebrightside]

@susier Thanks, he does use my laundry room and has his bins in my driveway and sometimes car so I'll work out the area. Thanks heaps for your response!

 

[susier]

@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]

@susier Thank you- that's actually better as I have substantially more outdoor area but only slightly more floor space!

 

[onthepathtogod]

@susier This is potentially going to be a seperate dwelling though is the way I read it? Not sure these rules apply?

 

[susier]

@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.

 

[onthepathtogod]

@susier Part 3 & 33

 

[cburesearch]

@susier Hey OP, great post. If I live in an apartment and rent out 1 of the bedrooms, and there’s a $10,000 body corp bill to repair a leaky wall, would this be deductible? Thanks!

 

[susier]

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

 

[matthews49]

@susier Thank you for this post! My partner and I both own our home, how would we go about claiming tax back for our boarder? Would just one of us be able to do it?

 

[susier]

@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)

 

[candicewt]

@susier Very informative. This is the type of post that will really benefit the subreddit. Thanks OP!