# nominal rent from son



## Delta (28 Sep 2008)

Looking for some advice, I own two apartments, and have previously declared the income from both apartments.  My son now lives in one of the apartments and only pays a small amount of rent.  Does anyone know the implications if I declare or omit to declare this rental income.  The other apartment will be declared as usual.


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## papervalue (28 Sep 2008)

may be worth continue to declare- if the income is less than expenses such as mortgage interest the loss can be offset against the other property. at a tax inspection they are entitled to look at private bank stat- want to knew about these lodgements. if proper relationship of lanlord tenant-son should be able to claim tax credit .


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## ClubMan (29 Sep 2008)

Read the posting guidelines. Post in the correct forum.


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