Earnings Cap

[Ben-and-Ronel0]

Hi, i'm currently hosting 2 properties in NZ. We have a GST law that states we can't earn more than 60k without being GST registered. At the moment we're pretty busy and 'could' earn more than this, but we are trying to stay under the 60k earnings so that we don't have to register for GST. From our perspective at the moment, the cons outweigh the pros. Aside from managing bookings month on month pretty carefully, is there any other way to cap earnings within the tool itself so that for example I could say, once 5k a month worth of bookings was accepted, don't accept any more? 

[Helen3]

No you can't . But you can obviously block out dates once you reach your limit. @Ben-and-Ronel0 

[Mike-And-Jane0]

@Ben-and-Ronel0 No idea how your tax laws work but could you host one property and your partner the other to stay below the GST threshold?

[M199]

@Ben-and-Ronel0 

In Canada, we have to report after $30,000.  We will be in a similar situation (hopefully) for 2022.   Here in Canada, you can start voluntarily reporting after $7,500.  The benefit is that I can collect input tax credit for my GST costs on supplies, etc.  Still working out the finite details.

Also, we have a single property, and we are not able to split the GST on the rental income between myself and spouse.  GST is based on gross rental and service fees, such as Cleaning Fee.

Maybe a quick conversation with a tax planner/accountant could guide you to the best solution.