Renting out a bedroom in your PPOR

Discussion in 'Investment Strategy' started by JudgeDreadz, 17th Oct, 2009.

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  1. JudgeDreadz

    JudgeDreadz Well-Known Member

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    If I were to rent out a car space and a bedroom in my PPOR, would I be entitled to similar tax benefits as if I were renting out the whole place as an IP?

    Any official gov links would be helpful.

    I am currently reading over the ATO's Rental Properties 2009 doc. I will let any interested parties know if this doc was insightful.

    Many thanks
     
    JudgeDreadz, 17th Oct, 2009
    #1
  2. JudgeDreadz

    JudgeDreadz Well-Known Member

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    Thanks to propertyinvesting.com found some links to the ATO I would like to share with you

    Exempt Proportions

    more

    I feel like such a grown up =)

    Any more comments on this?
     
    JudgeDreadz, 17th Oct, 2009
    #2
  3. JudgeDreadz

    JudgeDreadz Well-Known Member

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    anyone? no? anyone?
     
    JudgeDreadz, 24th Oct, 2009
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  4. BillV

    BillV Well-Known Member

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    Wasn't your question answered in the ATO doc?.
    the answer is NO
    Did you want to know something else?
     
    BillV, 24th Oct, 2009
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  5. JudgeDreadz

    JudgeDreadz Well-Known Member

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    afraid not, the ato stuff talked about capital gains tax exemptions rather than income tax deductions.

    i am guessing that if i rented out 50% of my property by floor area, then 50% of the interest is tax deductible?

    can anyone direct me to the relevant ato resources? i could not find any on their website. thanks
     
    JudgeDreadz, 26th Oct, 2009
    #5
  6. BillV

    BillV Well-Known Member

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    I'm not an accountant but thats my understanding as well
     
    BillV, 26th Oct, 2009
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  7. Simon Hampel

    Simon Hampel Founder Staff Member

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    First page I came across in Google contained an example :D

    Rental property expenses

    Hope this helps
     
    Last edited by a moderator: 26th Oct, 2009
    Simon Hampel, 26th Oct, 2009
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  8. JudgeDreadz

    JudgeDreadz Well-Known Member

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    excellent, thank you Sim.

    Could I be a pain and ask what you googled to find that?
     
    JudgeDreadz, 27th Oct, 2009
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  9. Simon Hampel

    Simon Hampel Founder Staff Member

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    It was: rental property expenses

    I was actually looking for the annually updated guide the ATO publish on rental properties - I was sure there was an example in there, but it turned out that the first ATO page I got back had an example on it.
     
    Simon Hampel, 27th Oct, 2009
    #9