Ditto what Scott said.  I have a boarder (own a 2brm unit) and so I declare his rent but I also claim half of all my property expenses.  Nice way to get some tax effectiveness from my PPR and legitimately reduced my tax.In your case, if it's for a short period only and you don't intend to repeat it in the future then the extra bookkeeping might n…[Read more]

Hi Sonya,they are rare but they certainly do exist in Australia.  I've had one great client who for the last 10 years has been flipping vacant lots sold by councils.  The points she made me aware of when first inquired about these were; – the auctions only happen infrequently and some councils only hold them ever 1-3 years due to the low vo…[Read more]