Airbnb - Key tax considerations 2019

Description

Generating revenue from residential properties has grown in popularity through online booking platforms such as, Airbnb, bookabach and holidayhouses.co.nz, which has led many to rent out their properties on a short term basis. This, combined with the varied nature of such rentals, present several issues for advisors of such clients to deal with.

Advisors also need to understand upcoming changes to rules that will impact short-term property rental, such as the proposed introduction of loss ring-fencing and capital gains tax. There are also some changes afoot in terms of GST including the calculation of GST where there is an element of private use. This presents a number of new challenges for advisors of clients letting properties on websites such as Airbnb.

This webinar will work through the various taxation issues and commercial considerations that advisors need to be aware of, including:

  • Income Tax –
    • Application of the mixed use rules;
    • Bright line and land taxation rules;
    • Ring fencing of losses from rental properties;
    • Capital gains tax.
  • GST –
    • The GST treatment where there is a private use component associated with letting a property;
    • The recently published view from the IRD in terms of what constitutes a separate asset for an Airbnb and mixed use asset purposes.
  • Ownership issues/options –
    • Ownership options for “Airbnb” type investments;
    • The tax implications of the ownership structure chosen;
    • Highlight some issues if you are considering restructuring ownership of the property

LEARNING OUTCOMES

By attending this course you will get a better understanding of the current issues that taxpayers will face when they rent their property/homes short term, especially via online platforms likes Airbnb, bookabach etc

SUITED TO 

CAs/Lawyers/Advisors – Appropriate for all levels

PRESENTER

Daniel Gibbons, Associate Partner – Tax Advisory, Findex presenting on behalf of TEO Training

1.25 CPD Hours

  • Apr 09
    Tue, 2:30 PM NZST - 3:45 PM NZST Online
    • $190.00 excl. GST

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One-connection-one-fee

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Sole practitioners

A discount on webinars is available for sole practitioners. Please contact us at NZ‑learning@wolterskluwer.com to confirm eligibility.