Tax/GST/LTC Expert

Ask Nick Ashford of Withers Tsang & Co questions relating to Tax and Asset Structures

Nick Ashford and his team at Withers Tsang & Co specialise in advising on property related transactions, valuation and restructure services and tax planning.

Mixed use treehouse asset

Ingrid asks:

We are building a tree-house and are thinking of offering this as a room on Airbnb. We will also stay in the tree-house from time to time. Does this dual use of the tree-house make it a mixed use asset, with relevant tax rules ?

I only want to rent the accommodation out to make enough money to cover my gardening expenses and perhaps a bit more. We have a large garden which costs about $6000 per annum to maintain and I feel that a well maintained garden is an integral part of the Airbnb.

I phoned Inland Revenue asking about B&B accommodation and they advised that they think any gardening expense would be tax deductible for B&B accommodation, but that I would need to apply for a ruling on it. Somehow their answer doesn't sound right to me as the garden will be shared use between our family and the guests.

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Taxing flatmates vs boarders

victoria asks:

My 19 year old University student daughter is buying a property and plans to rent out the second bedroom, I have read that if she does this she doesn't have to pay tax if the person pays less than $254 per week. We anticipate the rent for the second bedroom to be $230. Does this also apply if her trust buys the property for her - ie: the property is in her trust's name?




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Do-up sale tax rules

Leon asks:

Just wondering - if we sell a house that we have fixed up (which is not the one we live in) what are the tax obligations? Do we have to have a company to write off any expense to fix it up? Any information appreciated.

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