Short Stay Accommodation 2023 - Practical Income Tax Scenarios & Issues - 18 May 2023 (On Demand)

Description

With borders reopen and tourism on the increase, we are likely to see a return to property owners letting property as short stay accommodation. We are also now seeing scenarios whereby people who had never let a room or their “bach” as short stay accommodation in the past are starting to do so to help cover mortgage costs as inflation rises and bank lending rates continue to increase.

Anyone who deals with clients that let property (including a room in their own home) on a sort stay accommodation basis, whether through Bachcare or otherwise, will benefit from this practical focused course.

This course will look at scenarios that we all see on a regular basis and work through the implications of the income tax rules. We will cover scenarios that continue to arise as a result of COVID and the recovery of tourism and look at the application of the new bright-line and interest deductibility rules as they apply to short stay accommodation properties.

While working through the various scenarios we will also cover the implications of recently enacted income tax law changes as they apply.

ORIGINAL BROADCAST DATE

18 May 2023

LEARNING OUTCOMES

  • Upon satisfactory completion of this webinar, you will:
  • Have a better understanding of the income tax issues facing clients that let property as short stay accommodation, including:
    • How income tax rules practically apply;
    • How the Mixed-Use Assets rules apply; and
    • The income tax implications of different ownership options.
  • Gain an understanding of the issues arising from recent income tax changes relating to relevant matters including bright-line and interest deductibility.
  • Be able to guide your clients through the various issues and competing objectives that they will have and face when letting property as short stay accommodation.

SUITED TO

This webinar will be suitable for all accounting and legal practitioners that have clients letting through Bachcare and the like, as well as real estate agents and property letting managers.

PRESENTER

Daniel Gibbons, Partner  - Tax Advisory, Findex/Crowe (presenting on behalf of TEO).

1.25 CPD Hours

  • On Demand Event
    • $195.00 Mid-Year On Demand 40% Discount - Apply Promotional Code: MYOD24 $117.00excl. GST
    Complete online in your own time (Self-paced)
    • $195.00 Mid-Year On Demand 40% Discount - Apply Promotional Code: MYOD24 $117.00excl. GST

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One-connection-one-fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

All registrants to a live webinar will automatically be sent a recording at the end of that week along with a full transcript of the webinar, regardless of whether you attended or not.

Sole practitioners

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