Tax Treatment on Renting out Part of Your Home
Hoping someone can help clarify this. Doing some research has led to more confusion.
If I am living at my PPoR but I decide to start renting out part (roughly 50%) of the home to produce income and I able to:
- Claim part of the loan interest, body corporate and other fees (less rent) as a tax deduction ?
- Claim the depreciation of a property (If built recently) using a quantity surveyor ?
- Claim other deductions as if that half were purely an investment property?
Really appreciate your help!