Income tax – If property held in a trust is rented out for short-stay accommodation, who declares the income and what deductions can be claimed?
This question we’ve been asked (QWBA) explains how the income tax rules apply if property held in a trust is rented out as short-stay accommodation (for example, through Airbnb, Bookabach, Booking.com or Holiday Houses).
Income Tax Act 2007 – ss CC 1, CG 4, CH 5B, DA 1, DB 2, DV 9, subpart EE, subpart EL, YB 4, YB 11, and YA 1
Tax Administration Act 1994 – s 43B