- New Zealand is making changes to the GST on listed services rules.
- The changes affect ride-sharing, food delivery, and short-stay accommodation services.
- Marketplace operators will collect GST at 15 percent and pass on 8.5 percent to sellers who are not GST-registered.
- Sellers can choose to include flat-rate credits as assessable income in their income tax return.
- Marketplace operators must have records of the seller’s name, IRD number, and GST registration status to claim a credit adjustment for flat-rate credits.
- Online marketplaces must provide taxable supply information to recipients within 28 days of the time of supply, unless the seller has opted out.
- The obligation to provide taxable supply information may apply to listing intermediaries for accommodation services.
- The timing for accounting for GST on accommodation has changed, allowing for earlier accounting.
Source: answerconnect.cch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
