If you receive income from more than one source and are certain that you will earn less than $18,200 in total income for the financial year, you can now claim the tax-free threshold from all of your employers and other withholding payers.
Let’s say you have the following scenario: Market rent for your investment property is $500 per week but you are a great friend or family member and renting out your property at $300 per week instead. Although it is very nice and welcome by the recipient – this does have tax consequences. Read on.
Some useful links to save you time hunting around (Click on Heading for Links of Interest)