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Does charging family or friends money to rent out premises have tax consequences?

We have a holiday home that we allow friends and family to use for a charge of $20 per head per night to cover our costs. Should this be subject to tax?
Asked in Newcastle - Newcastle and Lake Macquarie, NSW, 03-03-2015
1 Lawyer Answered
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  1. Income
Lawyer Answers (1): Answers from lawyers are general preliminary responses. They are not formal legal advice and cannot taken account of all your circumstances. They do not create a lawyer–client relationship.

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