April 1 marks a significant change in the GST tax treatment of mixed-use assets. Taxpayers can claim 100% of GST for expenses relating to the income-earning use of a mixed-use asset, for example, the cost of advertising a holiday home online. However, working out GST claims for expenses relating to both the income-earning and private…
Tag: Bach
What to know if you rent out your holiday home or provide services online
Do you rent out a bach on Airbnb or do some driving on Uber for extra income? Additional tax changes could affect you that need to know about. From 1 January this year, platforms such as Uber and Airbnb will collect information from their users including sales income and IRD numbers, and will be required…