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11/05/2019 at 6:19 pm
#37563
I agree with JT. Bad idea and would require council approval. If you did go ahead, it would be the Owners Corporation that did the renting out and received the income. With additional income, the OC would not need to levy owners as much to cover its various expenses. Consequently, the owners would all benefit financially through lower levies in proportion to their unit entitlements without any personal tax implication.
If the OC is large enough to be registered for GST, then it would have to add GST to the space rental and include that in its tax statements.