Hi Variable. It's pretty much been stated but you must charge market rent. Any rental appraisal will provide a range and you can charge at the lower end of the range but if you charge below this you will be penalised by the IRD come audit time.
Charging your parents below market rent and claiming interest deductions will clearly be seen as a tax dodge. Don't go there..
Charging your parents below market rent and claiming interest deductions will clearly be seen as a tax dodge. Don't go there..
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