Given the lack of overseas and local visitors due to Covid-19, many commercial property owners, such as Airbnb operators are considering changing the use of their property to long term residential. Those with vacant commercial property due to business closures are looking at converting the commercial space to residential. These options will have GST and income tax consequences. In this webinar we will discuss:
- The GST change of use rules
- GST deregistration rules
- Loss ring-fencing issues
- Bright-line issues
While changing the use of property from commercial to residential may be a necessity in the current economic climate, there are a number of tax issues to factor into any such decision.
The webinar is 1 hour plus a 15 minute Q&A session.
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