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.<\/p>\r\n\r\n\r\n\r\n
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 to share it with Inland Revenue and relevant overseas tax authorities by early 2025. The requirement applies to online marketplaces in the \u2018sharing economy\u2019 that connect service providers with customers (for example, the owner of a holiday home with short-term tenants, or a driver with riders).<\/p>\r\n\r\n\r\n\r\n
As well as short term accommodation and ride-sharing services, this covers people who provide assets such as cars, caravans, parking, or storage space, personal services such as graphic design on platforms like Pocket Jobs, or who deliver food on apps like Delivereasy. It also covers trades people who provide services to customers through online platforms.<\/p>\r\n\r\n\r\n\r\n
Additionally, from April, people who rent out their bach on Airbnb or Bookabach, drive for Uber or other ride-sharing platforms, or who deliver food and beverages through online platforms should be aware that their online marketplaces are required to collect and return GST of 15%. This applies whether the seller is GST-registered or not, though the rules work a bit differently for people who aren\u2019t registered for GST.<\/p>\r\n\r\n\r\n\r\n
If you provide services on an online marketplace, you\u2019ll still need to declare all income in your tax return and keep records of income earned and expenses incurred. If you would like more information on how the GST rules will apply to you, please contact us.<\/p>\r\n","protected":false},"excerpt":{"rendered":"
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 …<\/p>\n","protected":false},"author":2,"featured_media":4151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[692,490],"tags":[695,696,697,698,626],"yst_prominent_words":[361,451,152,238,275,151,162],"yoast_head":"\n