Description
Short term rentals are booming—but so are the rules. In this practical webinar, unpack how the tax rules apply in real life, with clear examples and calculations you can use immediately.
Short-term rentals continue to grow in popularity, with many property owners choosing to let a room in their own home or make a bach/crib available for short-stay accommodation through online platforms and private arrangements. Anyone who deals with clients that let property (including a room in their own home) on a short stay accommodation basis, whether through AirBnB or otherwise, will benefit from this practical focused course that will look at examples of how the rules apply in varying situations.
The course will provide an overview of the rules focusing on how they apply in practice using common scenarios and illustrating the application through calculations to demonstrate the impact of the apportionments and limitations including but not limited to:
- Interest deductibility for 2025 and beyond
- Residential loss ring fencing and what it means for short stay rental property owners
- Mixed-use asset limitations/apportionments and quarantining of expenditure
- Fit out claims under the new s DB 65B
- Deductibility of holding costs if a sale is taxable
- The income tax impact of the GST marketplace rules
- Income tax treatment when a property is being renovated
While working through the various scenarios, we will focus on the practical outcomes and considerations.
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
- The income tax implications of different ownership options
- Gain an understanding of how to apply the income tax rules, including bright-line, interest deductibility and commercial depreciation and calculate the various components to provide better guidance to your clients regarding the likely outcomes
- 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 course will be suitable for all accounting and legal practitioners that have clients letting through Bachcare, Air BnB and the like, as well as real estate agents and property letting managers.
PRESENTER
Daniel Gibbons, Partner, Findex/Crowe
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.
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