I have two Airbnb listings. One is a self contained warehouse pad where I live, and the other one is a flat around the corner. It's a small building and I would get into strife immediately with short term rentals (despite being on the EC). With that one, I have a minimum three month rental. There are people there now on a six month term and they want to extend.
Short term IP rental club
- Thread starter antistar
- Start date
This question should probably go to the "Accounting and Tax" section but since we are on this topic, I'll just ask away anyhow. 
I'm assuming people here doing this are already register with a ABN. If your income reaches over $75K, do you need to register for GST? According to ATO, renting of residential premises is considered input-taxed sales therefore, you can't charge GST in your rents, and also can't get GST credits.
I know some of the guys here already have many properties which I'm sure have gone way past the $75K GST turnover. So how do you deal with the GST implication? How do you deal with the GST portion in terms of all the expenses you made with cleaning, tea, sugar, toilet papers, purchase of appliances, furnitures, repairs, etc...
I'm assuming people here doing this are already register with a ABN. If your income reaches over $75K, do you need to register for GST? According to ATO, renting of residential premises is considered input-taxed sales therefore, you can't charge GST in your rents, and also can't get GST credits.
I know some of the guys here already have many properties which I'm sure have gone way past the $75K GST turnover. So how do you deal with the GST implication? How do you deal with the GST portion in terms of all the expenses you made with cleaning, tea, sugar, toilet papers, purchase of appliances, furnitures, repairs, etc...
