Hi All,
I am new to property investment. I have 3 bedrooms house and I rent 2 rooms out.
As I only accept cash and no receipt, can the house be considered as investment (2/3)?
Can I claim negative gearing and depreciation?I am also looking for good Accountant for my tax return in Sydney.
Who can give me advise and find the best way for my tax return.
anyone can recommend?Thank you very much !
Eric
If you are not declaring the income, then you can't claim the expenses.
Depending on other factors (what rent is being charged, did you advertise for the tenants,) the ATO may declare this income as board instead of rent, so you wouldn't have to declare it as income.
Dan42 wrote:If you are not declaring the income, then you can't claim the expenses.Depending on other factors (what rent is being charged, did you advertise for the tenants,) the ATO may declare this income as board instead of rent, so you wouldn't have to declare it as income.
Yes, that is why I want to find an Accountant to check for me.
what is the best for tax return
should I declare those rents as my income or not so I can get the most tax return
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