AirBnb - GST

Question 1

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a ______________, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 1

non-registered person

Question 2

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a ________________ and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 2

second-hand goods claim

Question 3

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an _____________ by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 3

automatic risk review

Question 4

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little _______________, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 4

objective evidence file,

Question 5

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as _____________ with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 5

records of conversations

Question 6

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with ________________ of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 6

with local letting agents

Question 7

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents ________________________, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 7

of the AirBnb opportunities in the location

Question 8

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as ___________________________, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 8

as records of conversations with local letting agents of the AirBnb opportunities in the location

Question 9

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a __________________ if another party is going to run the activity on your behalf, initial communications with AirBnb itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 9

property management contract

Question 10

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, _________________ itself about become a potential provider on their site etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 10

initial communications with AirBnb

Question 11

activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, initial communications with AirBnb itself about ___________________________ etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 11

becoming a potential provider on their site

Question 12

GST input tax claims in respect of residential dwellings a client is going to use for AirBnb activities is a classic example of late. Since the land has often been acquired from a non-registered person, the client is looking to make a second-hand goods claim and files their GST return accordingly. The size of the refund usually dictates an automatic risk review by IR, and naturally all the IR investigator sees is a person essentially buying a private house. Immediately they are on the defensive (because everyone is dodgy these days), so be warned that simply telling them you are going to be operating an AirBnb activity will often not be enough, and it would be prudent to have been a little more proactive by creating a little objective evidence file, containing such things as records of conversations with local letting agents of the AirBnb opportunities in the location, perhaps a property management contract if another party is going to run the activity on your behalf, ________________________________ etc.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 12

initial communications with AirBnb itself about becoming a potential provider on their site

Question 13

Most of you will be aware that residential rental is an ______________ when it comes to any GST considerations, and consequently as the owner of the property you do not have any GST obligations in relation to the amounts received.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 13

exempt supply

Question 14

Most of you will be aware that residential rental is an exempt supply when it comes to any GST considerations, and consequently as the owner of the property you do not have any ________________ in relation to the amounts received.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 14

GST obligations

Question 15

Most of you will be aware that residential rental is an exempt supply when it comes to any GST considerations, and consequently as the owner of the property you do not have any GST obligations in relation to the ___________________.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 15

amounts received

Question 16

Most of you will be aware that residential rental is an exempt supply when it comes to any GST considerations, and consequently as the owner of the property you do not have any GST obligations in relation to the amounts received.
Unfortunately this understanding is often applied equally to Airbnb scenarios, where the nature of the accommodation being offered is at first glance, identical to any other supply of a residential dwelling. However there is one key difference with Airbnb, and in essence it often comes down to the ____________ nature of the supply, and the fact that the Airbnb clientele will not be occupying the premises as their principal place of residence – one key component of the definition of a “dwelling” contained in the GST legislation.
Since the “dwelling” definition will often not be satisfied, the supply will more than likely fall within the definition of being in a commercial dwelling. In this respect, while the supply of accommodation in any dwelling is specifically an exempt supply (s.14(c) GSTA85) for GST purposes, commercial dwelling supplies are still fully taxable.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 16

short-term

Question 17

Most of you will be aware that residential rental is an exempt supply when it comes to any GST considerations, and consequently as the owner of the property you do not have any GST obligations in relation to the amounts received.
Unfortunately this understanding is often applied equally to Airbnb scenarios, where the nature of the accommodation being offered is at first glance, identical to any other supply of a residential dwelling. However there is one key difference with Airbnb, and in essence it often comes down to the short-term nature of the supply, and the fact that the Airbnb clientele will not be occupying the premises as their ________________ – one key component of the definition of a “dwelling” contained in the GST legislation.
Since the “dwelling” definition will often not be satisfied, the supply will more than likely fall within the definition of being in a commercial dwelling. In this respect, while the supply of accommodation in any dwelling is specifically an exempt supply (s.14(c) GSTA85) for GST purposes, commercial dwelling supplies are still fully taxable.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 17

principal place of residence

Question 18

Most of you will be aware that residential rental is an exempt supply when it comes to any GST considerations, and consequently as the owner of the property you do not have any GST obligations in relation to the amounts received.
Unfortunately this understanding is often applied equally to Airbnb scenarios, where the nature of the accommodation being offered is at first glance, identical to any other supply of a residential ________. However there is one key difference with Airbnb, and in essence it often comes down to the short-term nature of the supply, and the fact that the Airbnb clientele will not be occupying the premises as their principal place of residence – one key component of the definition of a “_________” contained in the GST legislation.
Since the “__________” definition will often not be satisfied, the supply will more than likely fall within the definition of being in a commercial _________. In this respect, while the supply of accommodation in any ________ is specifically an exempt supply (s.14(c) GSTA85) for GST purposes, commercial __________ supplies are still fully taxable.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 18

dwelling

Question 19

Most of you will be aware that residential rental is an exempt supply when it comes to any GST considerations, and consequently as the owner of the property you do not have any GST obligations in relation to the amounts received.
Unfortunately this understanding is often applied equally to Airbnb scenarios, where the nature of the accommodation being offered is at first glance, identical to any other supply of a residential dwelling. However there is one key difference with Airbnb, and in essence it often comes down to the short-term nature of the supply, and the fact that the Airbnb clientele will not be occupying the premises as their principal place of residence – one key component of the definition of a “dwelling” contained in the GST legislation.
Since the “dwelling” definition will often not be satisfied, the supply will more than likely fall within the definition of being in a ______________. In this respect, while the supply of accommodation in any dwelling is specifically an exempt supply (s.14(c) GSTA85) for GST purposes, __________ supplies are still fully taxable.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 19

commercial dwelling

Question 20

Most of you will be aware that residential rental is an exempt supply when it comes to any GST considerations, and consequently as the owner of the property you do not have any GST obligations in relation to the amounts received.
Unfortunately this understanding is often applied equally to Airbnb scenarios, where the nature of the accommodation being offered is at first glance, identical to any other supply of a residential dwelling. However there is one key difference with Airbnb, and in essence it often comes down to the short-term nature of the supply, and the fact that the Airbnb clientele will not be occupying the premises as their principal place of residence – one key component of the definition of a “dwelling” contained in the GST legislation.
Since the “dwelling” definition will often not be satisfied, the supply will more than likely fall within the definition of being in a commercial dwelling. In this respect, while the supply of accommodation in any dwelling is specifically an exempt supply (s.14(c) GSTA85) for GST purposes, commercial dwelling supplies are still _____________.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 20

fully taxable

Question 21

As a result, where your Airbnb revenue is expected to exceed the ____________________ of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR based on the deemed market value of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 21

annual compulsory registration threshold

Question 22

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of ___________, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR based on the deemed market value of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 22

$60,000

Question 23

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to ___________ the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR based on the deemed market value of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 23

cease

Question 24

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you ________________ to pay GST output tax to IR based on the deemed market value of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 24

trigger an obligation

Question 25

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation ______________ to IR based on the deemed market value of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 25

to pay GST output tax

Question 26

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you __________________________ to IR based on the deemed market value of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 26

trigger an obligation to pay GST output tax

Question 27

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR __________ the deemed market value of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 27

based on

Question 28

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR based on the _______________ of the property at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 28

deemed market value

Question 29

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR based on the deemed market value ___________ at that time.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 29

of the property

Question 30

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR based on the deemed market value of the property ______________.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 30

at that time

Question 31

As a result, where your Airbnb revenue is expected to exceed the annual compulsory registration threshold of $60,000, you must register and commence paying GST to IR on the amounts received. Worse, once in the GST net, should you at any time decide to cease the Airbnb activity (often without a corresponding disposal of the residential property), you trigger an obligation to pay GST output tax to IR ________________________________.
https://gilligansheppard.co.nz/richards-tax-updates-august-2/

Answer 31

based on the deemed market value of the property at that time