All Topics / Help Needed! / Renting out a section of your principal place of residence
Just a quick question about renting out a room or the bottom floor of your PPoR?
Is there a percentage amount of your mortgage interest that can become deductible for tax purposes, and if so, how is this percentage worked out?
Can you also claim things like depreciation on a new kitchenette as well?
Cheers fudge111
- This topic was modified 9 years, 8 months ago by fudge111.
Have a chat to your accountant but from what I understand it can be apportioned.
Take into consideration though the wider implications such as impact on CGT exemption for your PPOR, insurances, having a boarder vs tenant as well as other things.
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone MeMortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
Kinnon’s on the ball, doing this can have implications on your CGT free status for your PPOR. Double edged sword.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
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