Hi Brad,

It is not possible to rent your own house to yourself. The Australian Tax Office require transactions and attamgements to be 'normal market' practice. This aspect is not normal market practice.

Having said that it may be possible in some circumstances for you to rent from a company owned property. But of you already own the propert/ies in your own name anyway then selling the property from you to a company would incur stamp duty and possibly even CGT. The other thing to consider is that companies are not eligible for the 50% CGT discount when a property is sold - all profits are taxed at 30%.

I struggle to think of a set of circumstances where this would be viable.

Hi, what about if we own the property in our personal names and rent an area of it to our business, rather than apportioning a percentage of the area for mortgage, rates, elec etc? I am thinking along the lines that our business would have to pay for office space and a warehouse type area otherwise, so why should it not be able to rent an area set aside solely for the business, from us?