The perils and pitfalls of renting out a room
If you thought renting out a room was a simple way to make money you’ve clearly not kept up with Australia’s tax regime, as this slightly irreverent but accurate take on the situation reveals.
It may seem an easy way to create a passive income, but there are complicated tax-related consequences to renting out a room. Photo: Shutterstock (Image source: Shutterstock.com)
If you thought renting out a room was a simple way to make money, you’ve clearly not kept up with Australia’s tax regime.
The only thing missing from the ATO’s mathematical paroxysms on the subject are some logarithms and a side order of fries.
With people across the country looking for new ways to generate income as employment dries up and the economy submerges into a deep recession, some homeowners have turned to their biggest asset as a pote…
