The new government appears not to be removing the GST charges to be made by online platforms (companies finding customers for you through their website).
From 1 April 2024, online platforms that offer the following services will charge your customers GST:
If not registered for GST
If the government received all the GST, this would be unfair because there is GST in the expenses incurred in providing the services – for example, rates and insurance paid on short-term accommodation. As a consequence, some of the GST will be paid to you to compensate you for the GST claim you are missing out on, and some to the Inland Revenue.
The online platform will pay you an extra 8.5% and it will pay the balance of the GST, being 6.5%, to Inland Revenue. Obviously this is going to increase the price of the services, which might put some pressure on the amount you charge.
If registered for GST
The platform will pay all the GST to Inland Revenue. As a consequence, you will treat your income from the online platform as zero-rated income. You will claim GST in the usual way. Image by HYPERLINK "https://pixabay.com/users/fotografierende-4558536/?utm_source=link-attribution&utm_medium=referral&utm_campaign=image&utm_content=4597415"fotografierende, Pixabay