Boarding house claims

Question from Rebekah updated on 17th September 2018:

We have just started a small boarding house: there are four bedrooms. We are paying the power. We presume this is claimable as an expense at the end of the financial year?

Our expert Matthew Gilligan responded:

I will keep this short and sweet. Yes, you can claim the power as a deductible expense where it relates to a property that you are renting out and producing taxable income.

Matthew heads GRA's specialist property and asset planning division. He helps clients create optimal tax structures and build wealth through property. He has an extensive buy-to-hold property portfolio, is currently involved in over a dozen developments, and is author of two books - Property 101 and Tax Structures 101.

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