News

GST changes clear up bach rules

Thursday 20th of December 2012

Some family baches have been inadvertently caught in the GST net since April 1, 2011.

The institute said that of particular concern was a sole trader who also rented out their family bach for short-term accommodation.

Under current rules, they are required to return 3/23 of the sale price as GST to IRD. Those who carry on business through a company would not need to do so. Gover...

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