We have previously discussed the tax aspects of being a host with Airbnb or other online accommodation platforms. With Airbnb’s increasing popularity, we thought a reminder would be useful if you’re an existing host about obligations to your lender, insurer and local authority.
This is a question often overlooked when buying your home. It is, however, a common situation when two people are buying a property together. Let’s take an example to show how these both work.
Our team here at Aspiring Law is fielding a lot of queries about the latest changes to what’s known as the “bright-line test”, the property tax regime that came in in 2015.
From 1 April 2018, small businesses with a turnover of less than $5 million a year do not need to be exposed to use-of-money interest when calculating their provisional tax. Tax payments do need to be made in full and on time.