If you're renting out or sharing owned or leased assets, you must register for GST if you earn more than $60,000 from all taxable activities including renting or sharing assets in any 12-month period.
If you’re already GST-registered, for example as an IT contractor, you can use the same GST registration for your asset-sharing activities.
If you're GST-registered, you can claim GST for expenses related to your business. If you're claiming GST for purchasing an asset, you must split the expense between personal and business use.
Last updated:
28 Apr 2021