Hello,
My husband has just taken a new job which includes rent to be paid as part of the package. We already own a house in the area which has a massive shortage of rental properties.
Is it possible for his company to take a lease over the property and we live in it. Can we then declare the income as rental income.
The alternative is for us to rent out our house to strangers and try to find something else to rent but decent properties are few and far between.
Thanks
NatalieI recall reading that this was something that the ATO was aware of and there was a ruling against it. I am trying to recall where I read it and I think it was on the BANTACS website. I am sorry I cant be more specific. I think the reason was you were in a more tax advantageous position by being able to claim all deductions but not pay tax on gains if you were still calling it a PPOR. PLease let us know if you find out anything differnt.
MickWe already have another house which we are claiming as a PPOR so this one will be subject to capital gains.
Thnaks
Natalie
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