I travel frequently so will be needing a Co-host ASAP. Any l...
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I travel frequently so will be needing a Co-host ASAP. Any leads or referrals are appreciated. I need someone who can clean o...
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I own a ski resort condo. I have decided to rent it using airbnb. I am making it so it 100% avail 365 days a year. Its a 4 season resort. I am going to go see an accountant but was wondering if anyone here may have some insight.
Question 1 - Say it only gets rented 1 or 2 weeks a month, since it is avail to rent every day of the year can I still claim 100% of my expenses? I have read conflicting things on this.
Question 2 - My wife is self employed and is 50% owner. Can I claim the all the earnings and expense on my Tax return, or does she have to claim 1/2. Hoping its me as I am retired and in a lower tax bracket.
Question 3 - I dont expect I will have to pay GST as I wont make that threshold, but if my wife has to claim 1/2 will she have to pay gst since she is already a GST registrant for who own business.
Hi, I m looking at an Airbnb forum from several years ago and see your comment about splitting your Airbnb income from your home 50/50 with your spouse who owns 50% of the house. What I don't understand us where to report this split.
Ie: Airbnb is asking me to provide my tax information/social insurance number. In turn they will report this income to Revenue Canada. However, Airbnb doesn't give me the option to also add my spouse as receiving 50% of the income. If I wait until income tax time and report that I earned only 50% of what Airbnb said I earned and that my spouse earned the other 50%, is thus going to be a red flag to Revenue Canada?
I would speak to your accountant and see how best to set this up @Eric-Langshaw0
or set your wife up as a cohost and pay her 50%