If I have a property that is in a family trust and then my parents live in the proprerty do I have to declare it as investment property? Also, can I charge them board to cover my costs e.g. $200 a week, or do they have to pay market value rent?
Hi @BruceWayne,
When your parents live in a property owned by a family trust, this arrangement is considered a domestic arrangement. This means you don't need to declare the board payments as income on your tax return, and you can't claim deductions for expenses related to the property.
You can charge your parents board to cover costs (like your example of $200 per week) without having to charge market value rent. This board payment is designed to cover their meals and accommodation costs. Since it's a domestic arrangement, the money you receive isn't considered taxable income.
If you were to change this arrangement and formally rent the property to your parents at market rates, it would then be considered an investment property. In that case, you would need to declare the rental income and could claim appropriate deductions.
15 Apr 2026 · 4 min read time
15 Apr 2026 · 8 min read time
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