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Spare Space for Extra Cash
Do you have a bedroom, garage or parking space that is not being used?
Are you open to renting it to someone in your neighborhood for extra cash?
Are you interested in earning up to $3000 a year of passive income?
If you answer yes to all of these, we are looking for you! We are in need of people with extra storage space for our growing number of renters looking for storage.
Contact Spacer at 1 300 500 538.
And how does this work with losing the capital gains tax exemption on your principle place of residence when you start earning an income from your spare space in your garage?
I know a umber of hosts who have had to close the door on their Airbnb business because of this issue in Australia.
The CGT issue is more of a PITA in calculating it - percentage of floor space over number of days occupied/owned. Bleurgh.
Yes - that is the method…but I know of a host who earned $30k from hosting, sold her her home and with the loss of the Capital Gains exemption had to pay $30K in tax. Her words - all that had work in hosting earns me exactly nothing. Australian hosts need to be aware of this. It amuses me that a renter can rent out a room and earn taxable income but an owner has some many other tax issues.
Australians have a really weird relationship with tax.
She would have had a substantial uplift in the value of her house during the time it was being used commercially (and only the percentage used for commercial purposes) so overall she would have been up. She would have also had to have paid income tax on the revenue from AirBNB.
Yes we tax everything and tax it again and again and again, we do everything we can to disincentives people from working snd have generous welfare payments. Part of the reason we are currently broke
I have a slightly different view as we have a few entrepreneur friends, and I don’t know anybody on the dole. I do agree that we’re broke. More taxes? 
It seems like tax minimization is a national hobby. My colleagues find it weird that our investment properties are positively geared.