Normally income that you receive from renting out property will be liable for income tax, so you must include it in your tax return. This income could be from renting out land or buildings, or it could be income you earn by having private boarders or flatmates living with you.
Rent in advance: Any rent paid to you in advance, is taxable in the year you receive it in. So if your tenant paid rent on 30 March 2020 for the next two weeks, you'd return this income in the income year 1 April 2019 to 31 March 2020 (if you have a standard 31 March balance date).
Tenancy bond: Amounts you receive for tenancy bond and pass on to the Ministry of Business, Innovation and Employment are not income. Amounts you receive from the Ministry of Business, Innovation and Employment for payment of damages, rent arrears etc, should be included as income.
Read out about Income from renting to private boarders or flatmates on following link:
#Source: IRD
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