One spouse buying house in different location for work and renting out rooms

[cormacol]

Hi All

For work reasons, I will need to move away from my spouse during week and was thinking of purchasing an apartment. I was wondering if I would be able to rent out a room in such a place and avail of the rent a room tax break. Is this possible I.e is it possible for the new place to be my principle residence and the other house my spouses

Cheers

 

[Joe_90]

As far as I know a married couple can only have one PPR. I would imagine that 2 bed apartment you could claim 1/2 the interest x 75% as a deduction against rental income.

CGT exemption for 7 years.