I have an interstate student wanting to stay with us to attend a local high school.

Question

RachATO · Accepted Answer

This depends on the type of arrangement in place. For example, if the payments are covering board and lodging only, then this wouldn't be taxable income, and doesn't need to be included in your tax return. The Taxation Ruling TR 2167 provides more information on this. However, if you're renting out the room in conjunction with access to other areas of the house (similar to commercial rental arrangements), then it would be assessable rental income. In that case you may also be entitled to claim deductions for associated rental expenses.

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