Managing an Airbnb or short-term rental sounds like easy cash, but what about the tax side of things? In this episode, Glen and accountant-turned-money-coach Erin Davis break down everything you need to know about tax obligations, record keeping, and even the CGT implications for short-term rentals. Erin also shares her journey from a decades-long career in accounting to empowering women in business with financial confidence through money coaching. The touch on:
๐๐ป income from short-term rentals - what you need to declare
๐ record-keeping tips to avoid ATO headaches
๐๐พ calculating deductions for Airbnb income
๐๐ฝ how renting a room impacts your CGT exemption
๐๐ฟ the six-year rule for principal place of residence
๐๐ผ what to do before renting part of your property
Check out Erin's podcast, The Erin Davis Show wherever you're listening to this podcast.
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