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Edited version of your written advice
Authorisation Number: 1051285393827
Date of advice: 22 September 2017
Ruling
Subject: Assessable income – home stay arrangement
Question 1
Is the income received under the homestay arrangement assessable?
Answer
No
Having considered your circumstances and the relevant factors, the payments you received are not considered to be assessable income under section 6-5 of the ITAA 1997. Further information on the payments received under a homestay arrangement can be found on our website ato.gov.au – ATO Interpretative Decision 2001/381.
This ruling applies for the following period:
30 June 2018
The scheme commences on:
1 July 2016
Relevant facts and circumstances
You accommodated international students at your place under a homestay arrangement for approximately six months in 2017.
You provided them with their own rooms, electricity, linen, meals, Wi-Fi, transport and other requirements during their stay to make them feel comfortable.
This homestay arrangement was provided through a relevant Homestay Network which is a recognised provider through the Department of Education.
You received weekly payments which was directly paid into your nominated joint bank account with your spouse and you also share 50% joint ownership of this property.
You received an additional amount of income totalling $X during this time.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 6-5.
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