Forming a company to run an Airbnb

[elliot]

My old family home has been converted to an Airbnb which has been a successful operation for a couple of years. I am mindful of keeping gross earnings below $60000 so I do not have to be GST registered . If I was GST registered (have owned the house for 17 years) GST would be recovered when I sell the house and this will be huge.

How simple or feasible is it to separate the ownership of the house from the airbnb business?
Is it feasible to separate the ownership of the house from the airbnb business by forming a GST registered company to operate the airbnb business which leases the house?
Any comments would be appreciated.

[donna]

A property accountant is your best next step. Plus your Airbnb needs to be GST registered now due to the new rules.

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