Description

Airbnb scenarios have changed since the first COVID lockdown. For a time the variations of the letting arrangements are feeling infinite from an advisor’s perspective. There is now a resurgence of the more traditional Airbnb letting arrangements, but of course the tax world has moved on making advising on these again difficult.

The session will focus on income taxation issues arising from various Airbnb situations. We will work through the technical issues and talk through practical scenarios to assist in being able to advise clients and landowners in the current new world.

This webinar will focus on the key income tax issues that arise from these scenarios, including but not limited to:

• Mixed-use
• When this applies
• Considerations when property provided to associated persons
• Mixture of rental activities and changing between long term rental and “Airbnb” rental;
• Private use implications;
• Bright line and land taxation rules:
• Sale and purchase agreement considerations
• Ownership structure
• Loss-ringfencing;
• Interest deductibility

ORIGINAL BROADCAST DATE

15 September 2022

LEARNING OUTCOMES

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

• Understand the taxation rules as they now apply to Airbnb activities
• Advise your clients on matters to work through
• Advise on structures of ownership and the income taxation considerations arising

SUITED TO

Accountants, lawyers and real estate agents dealing with clients/customers that have properties let as short stay accommodation, and those considering doing this going forward.

PRESENTER

Daniel Gibbons, Partner – Tax Advisory, Findex (presenting on behalf of TEO).