Description
GST rules for rental properties can be tricky—don’t get caught out! Join our expert-led session to learn how to handle calculations, adjustments, and obligations with confidence.
Ongoing changes to the rules or how they are applied continue to impact on how rental property owners are required to calculate GST and what obligation arises. How the rules apply to rental properties is not always straight forward, whether because of the arrangements entered into, how the property is used, or the nature of the income generated.
In this session we will work through the calculations that apply on a regular basis. We will cover:
- The value of the supply
- Secondhand goods claims with associated and non-associated parties
- Private use adjustments:
- Adjustments when the purchase or sale was zero-rated
- Change of use adjustments on a temporary basis
- Permanent change of use adjustments
Market value supplies when associated parties are involved.
LEARNING OUTCOMES
- Apply the GST rules to an adjustment for a zero-rated supply
- Complete change of use calculations in a wide variety of scenarios
- Calculate the GST input claim available for secondhand 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.
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PRESENTER
Daniel Gibbons, Partner, Findex (presenting on behalf of TEO)
Daniel is a Partner for Findex in Queenstown. Daniel has been with Findex for 18 years, where he advises on a wide range of tax matters, including property transactions and property ownership structures, international taxation issues, the tax treatment of investments and providing structuring advice to clients, including assistance for family group restructures. Daniel is recognised as a leader in the taxation treatment of short stay accommodation, providing training to other practitioners.