We signed the declaration of trust (I referred to it as a statutory declaration earlier which is wrong) when we moved out of our house on posting and started renting it. I was fortunate enough that my Mum worked in a solicitors office and was able to easily draft the paperwork and stick the form under her boss' nose for a quick scribble at zero cost. With my wife being a stay at home Mum she is well under the lower tax threshold.
Thank God I knew a guy who was renting out a house and pointed out the tax pitfalls. The SA this year due to Child Benefit would have been eye-watering otherwise, after 6.5 years of being a landlord!
BV
