No drama Bluesdog. All you really have to do is keep records of the date you moved out and the date it was available for rent. The reason is that all costs interest etc become tax deductable once it is available. The banks no longer charge diff rates for investment etc, so you really do not have to tell them anything. The tax office find out when you lodge your tax return and claim deductions but for now nothing changes. You can live away from your home for 6 years and not be liable for Capital Gains tax. Not sure about Qld but in W.A. you have to pay land tax on the property if you no longer live there and rent it out. Check with somebody other than the State Govt as many people do not notify them. I got caught in W.A. when instead of redicting my mail I notified them of change of address, my accountant did not know that rule and they just charged me a new rate no fines or anything like that. Other than that the usual property management stuff.
