Do I need a private ruling - renting investment property to family?

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 · Accepted Answer

Bruce4Tax · Answer

If there is a rental agreement in place, then the rent should be paid - but as it is not you should check the document to see what this does to your rental agreement. When relative does not pay market rent, your tax obligation is to decalre rent actually received, but only claim deductions to the extent of the rent. The unclaimed expenses can add to the CGT cost base because they are not 'claimable.'

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