A focus on topical tax issues - February 2017
No tax holiday for short term rental accommodation
With the advent of online accommodation marketplace services such as AirBNB, Book-a-bach, and similar holiday home rental sites, it has never been easier to turn a spare room, a holiday home or any other usable space into some easy cash.
More and more New Zealanders are making the most of the new accommodation craze and it is easy to see why when the hassle of advertising, managing bookings and collecting payment are provided through a third party platform. However, many people are using these services without consideration of the potential tax implications which can transform a little extra income on the side into an unexpected tax bill.
Also in this issue
- Why New Zealand is unlikely to introduce a diverted profits tax
- Does complying with complex tax rules for motor vehicles drive you crazy?
- Making Tax Simpler: A New Tax Administration Act
- Proposals to exclude services provided to non-residents in connection with land from being GST zero-rated are causing uncertainty
- Reforms for Non Resident Withholding Tax and Approved Issuer Levy
- A snapshot of recent tax developments
- Deloitte Tax Calendar