Hi,
I am a Superhost who have been active since 2018 and now I will be co-hosting another condo in Toronto. We agreed on me getting only 20% of the income from AirBnb earnings as the place is not mine and I will only help virtually with bookings. The money from all reservations should be split by 20% to 80%. As it will be my first time co-hosting an AirBnb, I was wondering if it is possible to split earnings to 2 co-hosts in different percentages, or if one person gets the earnings?
If latter, what should be the next steps? How does the tax work? Who pays the tax?
Will be really happy if you can let me know on how these work in Toronto as the last thing I want would be getting in trouble with CRA 🙂
Thanks,
Gulru Yetkin