Description

GST was introduced in 1986 and since then the rules have changed constantly often trying to keep up with how the rental of property has changed. This is even more the case since rental booking platforms have provided greater avenues for a property to be rented.

As a result, how the GST rules apply to rental properties is not always straightforward, with short-term rentals often providing another layer of complexity when it comes to determining and calculating GST obligations.

In this session we will work through the calculations that often apply. We will cover:

• The value of the supply;
• Secondhand goods claims with associated and non-associated parties;
• Calculating adjustments where the purchase or sale was zero-rated;
• Temporary change of use adjustment scenarios;
• Permanent change of use scenarios;
• Private Use Adjustments;
• Market value supplies between associated persons;
• Concurrent use calculations.

ORIGINAL BROADCAST DATE

7 March 2024

LEARNING OUTCOMES

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

• Apply the GST rules to an adjustment for a zero-rated supply:
• Complete change of use calculations in a wide range of scenarios:
• Calculate the GST input claim available for second hand good purchases.

SUITED TO

Accountants at all levels.
Lawyers providing advice on Agreements for Sale and Purchase of short term rental properties and preparing leases.

PRESENTER

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