If you get money from renting out your house, a room, a caravan or a sleep-out for any time at all - it's income.
This means you must file a tax return as you may have tax to pay - you may even get a refund. It depends on your other income (e.g salary or wages) and how much tax you've paid in the year.
Getting your taxes right is easy. Here’s what you need to know:
- you must include the income on an Individual tax return (IR3). This can be filed online - for most people it’s due 7 July
- you can claim expenses for the time you rented out the space - such as rates, insurance, cleaning and advertising
- keep clear records to confirm all income and expenses.
Tools to help you get it right
Local Councils