The Goods and Services Tax (GST) rule in New Zealand distinguishes between GST-registered and non-GST-registered owners. Learn more about the new GST law, and how to set up the tax in Guesty.
In previously created business models, you choose whether the PMC or owner is responsible for remitting all taxes. Now on a per tax basis you can assign all to PMC, all to the owner, or split them as needed.
Important:
You must create a new business model to assign remittance on a per tax basis.
Create new business model
Step by step:
- Sign in to your Guesty account.
- In the top navigation bar, click the mode selector and select Accounting mode.
- Click Business models.
- At the top right, click Add business model.
- Fill in the business model fields. See full details about creating a business model.
- Scroll down to the "Trust account income / Trust account expenses" section.
- Under "Trust account income", scroll down to "Taxes".
- To the right of "Taxes, click
.
- In the pop-up, assign remittances for all taxes between the PMC and owner. GST should be assigned as remitted by PMC.
- Click Save.
- At the top right, click Create new business model.
- At the top right, click Assign listings and select the relevant listings.
For GST-registered owners no further action is required.
Non-GST-registered owners
For non-GST-registered owners, you are responsible for paying the owner 8.5% of the accommodation fare. This is implemented as a negative owner charge, following the steps below.
- Open the same business model from the previous steps.
- Scroll down to the Trust account income / Trust account expenses section.
- To the right, click Add recurring owner charge.
- In the pop-up fill out the fields.
- Name: Enter freeform text, for example "Non-GST owner".
- Category: Select GST.
- Value: Select % and enter -8.5.
- Per: Select Accommodation fare.
- Recognition: Select check-in or check-out depending on your business model.
- At the bottom, click Add.
- At the top right, click Save and update.
When a reservation is made for an assigned listing to this business model, the negative owner charge is reflected in the accounting folio as follows.
