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The Business Advisory Blog

Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents. Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

Vanessa Williams
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GST Short Accommodation

Air BNB and Other

rent-506Just a reminder that if you rent out your home or other property for short term accommodation you may need to register for GST.

This could arise from renting out your house or holiday home for Americas Cup travellers on a one-off basis or continually renting it for short term accommodation like on Air BNB.

Remember, it does not have to be Air BNB; it could be on other booking sites or your own website.

Be careful, too, if you own more than one property as the $60,000 GST threshold takes into account the combined turnover of all properties used for short term stays.

Even if the $60,000 turnover threshold for GST is not breached, you still could be liable for GST on the property if it is continually used for short term rental. There could also be GST implications for the property itself if you stop using it for such a purpose.

We recommend that you talk to us at Alliott NZ as GST exposure can be mitigated with the right structure and advice. Contact our team on 09 520 9200.

Topics: Gst property sharing economy