- New Zealand Parliament proposed GST changes for online marketplaces, ride-sharing, food delivery, and short-term accommodation rentals.
- Changes include deduction rules for flat-rate credits, timing for accounting for GST on accommodations, taxable supply information, and opting out of the marketplace rules.
- Online marketplaces and accommodation listing intermediaries can claim credit adjustments for flat-rate credits if they provide the seller’s name, IRD number, and GST registration status.
- GST on accommodation can be accounted for as early as the check-in date or at the latest seven days after the check-out.
- Online marketplaces have 28 days to provide taxable supply information to listed service recipients, unless the seller opts out of the marketplace rules.
- Accommodation owners generating more than NZD 500,000 in 12 months must inform the listing intermediary if they want to opt out of the marketplace rules.
- Proposed GST changes are expected to be effective by the end of March.
- Taxable persons should prepare for imminent new GST rules and adjust their accounting and administrative procedures and systems accordingly.
Source: vatabout.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.
