Hi Community,
My spouse and I are co-owners of a vacation property so that we can split the rental income. I understand that there is a $30,000 GST/HST exemption limit. Question is, does this limit apply to each co-owner separately or does it apply to the entire net rental amount? For example, let's assume we earned $50,000 in net rental income...that would be $25,000 each. Are we both exempt from GST/HST in this situation?
Thanks!
