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Have you looked at the CGT implications on an income being earnt on your principal place of residence? The extra unit is owned by you? Have you spoken to an accountant?
there is an interesting article on "Flat Chat’ Jimmy Thompson and tax implications.
Yes. We have addressed all of that side of things. We have owned the property for 30 years so there has been a significant capital gain since then. We have had an accredited valuation done now to lock in the tax free status of that capital gain. We are aware that CGT will be payable down the track if we dispose of the property. Thank you for the Flat Chat tip. I hadn’t heard of him before.
What I am particularly interested in is whether AirBnB will accept a separate account for 31a.
Why don’t you just try it . I don’t understand the problem really. If you also BnB in your own home, your son will have his AirBnB account and you will have yours. I don’t think AirBnB will oppose two different accounts having a listing on the same address.
My question is: What is the importance of AirBnB accepting? AirBnB is not the tax department. It also isn’t the department who decides on new address numbers.