Who can live in my investment property?

 Author: YellowPotato(Taxicorn)Taxicorn

23 Mar 2026

See a tax agent.

Who can live in my investment property?

• Generally, anyone

I run this property like a business - but if i dont rent it to the person, i would still be getting income from them (as rent) so if i dont rent it out to them what do I need to do with this additional income?

• I'm not sure what you're trying to say about the part don't rent it out but still receive rental income
• If the income is for staying at the property, that's still rent
• You would need to check if it falls under domestic arrangement then no income declared and no rental deductions, or you're renting it out at arms-length so declare rental income and claim expenses as any other rental property

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 Author: brooooceee(Initiate)Initiate

23 Mar 2026

i am receiving rent for the property currently. If I am told the setup needs to change then I expect to still receive the same $$ per week to assist with the mortgage.

We arent family. We arent in a defacto/spouse relationship. Am just trying to understand what if anything I need to do in the short term so I remain compliant.

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 Author: KaraATO(Community Support)Community Support

23 Mar 2026

Hi @brooooceee,

I'd highly recommend having a read through the link @YellowPotato has provided about rental income you must declare.

If you’re still unsure after going through it, that’s when it can help to speak with a registered tax agent. Even around tax time, an agent who specialises in rental properties can help explain what needs to be declared and what you may be able to claim back.

The cost of using a tax agent is usually deductible in your next tax return, so you can claim it the following year.

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