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Re: GST on AriBNB

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My SMSF owns a commercial property, which is leased to my company for the running of my business.  The SMSF has developed a small area of this property, for my business to rent as an AirBNB property.  While the SMSF is registered for GST and collects GST on the rent from my business, please explain the GST implications for adding a residential property into the mix.

I assume my company should not charge GST on the residential rent charged to AirBNB.  Does the SMSF continue to charge GST on 100% of the rent received from my company, or is part of this transaction input taxed?  Is there anything else I should be aware of? 

 

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Hi @Chairman_Mal

 

Welcome to our Community!

 

We can provide general information here on our Community about tax and super topics, however your query is more complex and we'd need to know more information to be able to provide a definite answer.


It's recommend you write to GSTmail@ato.gov.au and provide detailed information about your situation to receive a more tailored response.

 

Thanks, JodieH. 

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Devotee

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Can't offer any assitance with the GST question, but I would like to offer a caution about the arragment "My SMSF owns a commercial property, which is leased to my company for the running of my business." My advice if you have not already done this is to seek taxation advice on this, as it appears to be a non-arm's length arrangment.  https://www.ato.gov.au/Super/Self-managed-super-funds/Investing/Tax-on-income/Non-arm-s-length-incom...

 

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Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @Chairman_Mal

 

Welcome to our Community!

 

We can provide general information here on our Community about tax and super topics, however your query is more complex and we'd need to know more information to be able to provide a definite answer.


It's recommend you write to GSTmail@ato.gov.au and provide detailed information about your situation to receive a more tailored response.

 

Thanks, JodieH.