Description

The rental of a property or rooms on “Air BnB” continues to raise several taxation issues for property owners and accounting practitioners alike. There is also the introduction of ring-fencing rules that need to be considered for the first time in the 2020 income year.

This webinar will focus on some of the most common GST and income tax issues facing practitioners for their clients, with additional attention on the application of the loss ring-fencing rules and the IRD’s position on the GST treatment of short-stay accommodation as it applies to the various scenarios.

In this webinar we will cover:

• Mixed use of the Air BnB property and the application of the income tax rules
• Loss ring-fencing
• What does it relate to?
• How do the rules work?
• How can losses be accessed and when?
• Bright-line rules and when they apply
• Main home exclusion
• Private home and rooms let to others
• If your client is GST registered and wants to or is already, letting on “Airbnb”
• Property owned jointly but they are registered as a sole trader
• Deemed market rental situations
• Family/friends
• Associated entities
• Who is the property let by if the property is owned in a trust and what does that mean for GST purposes?
• The Trustee
• The Beneficiary

ORIGINAL BROADCAST DATE

29 April 2020

LEARNING OUTCOMES

By attending this course you will get a better understanding of the key income tax and GST issues that your clients can face when they rent their property/homes short term, especially via online platforms likes Air BnB.

SUITED TO

CA/Lawyer/Advisor – Appropriate for all levels.

PRESENTER

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