All Topics / Help Needed! / Boarding do I pay tax ?

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  • Profile photo of Laura789Laura789
    Member
    @laura789
    Join Date: 2010
    Post Count: 2

    I am thinking about getting boarders in my house.
    What is the difference I know I supply food cleaning ect is there anything else ?
    Do I have to pay tax on this ?
    and when I sell my house do I have to give a portion to the government ?

    Thanks

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Yes, you have to declare income, and as such pay income tax.

    Yes, the house will then be up for some capital gains tax if you should ever sell.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of sonyasalsonyasal
    Member
    @sonyasal
    Join Date: 2008
    Post Count: 421

    I would double check this with the ATO, As I have mentioned in previous posts, I have a friend who has had international students boarding in her home for over two years and when she spoke with centrelink  (she gets family tax benefits) they told her that the boarding payments were not classified as income.

    I had a boarder living with me for twelve months before i had my childern and i also had a friend living with me and 'paying rent' for two years and I was never required to pay any tax on this money. this was ten -13 years ago, not sure if the rules have changed.

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