There are income and tax perks if you decide to rent a room of your existing property out as a short-term let.

You can claim expenses and depreciation for the percentage of the areas of your property that were available to rent.

Tax advantages can include portions of

• Internet and phone costs
• Water, power and council rates
• Repairs and maintenance
• Depreciation on the cost of equipment & furnishings
• Interest on your mortgage

You will need to keep thorough records of when the room was rented in order to correctly claim expenses, the same as you would do for another tenant.

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