Description

An overview of GST matters that need to be considered if you are or were letting property on “Air BnB

Given the IRD’s Interpretation Statement on GST and short-stay accommodation and the COVID Interpretation Statement, together with comments released on various issues relating to the use of properties as short-term accommodation, what does the new normal look like?
This webinar will look at:

• If your client is required to register because of “Airbnb”
• If they are a contractor but below threshold
• If jointly owned “Airbnb” but they had individual registration for another venture
• If they choose to register for “Airbnb” and there is no other venture
• Impact on private assets
• Possible wider implications
• If your client has a property that was used as short stay accommodation and is not any longer due to COVID
• Do they have a taxable activity?
• Do they need to make a change of use adjustment?
• Is it temporary (12 months or 18 months) to seek IRD relief?
• How do they decide what to do?
• If they move a property into or out of the Airbnb activity
• Impact when moved in
• Impact when moved out
• 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

LEARNING OUTCOMES

Upon satisfactory completion of this activity you will be able to:

• Advise clients on the advantages and disadvantages of GST registration for short-stay accommodation activities
• Advise clients on the GST considerations for them
• Assist a client with working through and GST adjustments that may need to be made

SUITED TO

Any practitioner or adviser (law, accounting, real estate etc) that advises clients on GST matters, and any property investor or owner wanting to understand their GST considerations.

PRESENTER

Daniel Gibbons, Partner, Findex (presenting on behalf of TEO)