Taxes on farm holidays
PA Wellington The practice of fanners providing farm holidays for tourists, which has now become well established, is subject to both income tax and GST, the Inland Revenue said.
It said holidays are offered either on a live-in basis or by providing separate accommodation, with or without meals. Length of stay can vary from one night to an indefinite period.
Inland Revenue said any payments received for accommodation or food are liable for income tax and GST is now payble on the supply of food and accommodation.
It said farmers should keep a record of all receipts and expenditure and any profits must be included in a tax return.
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Press, 15 October 1986, Page 46
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113Taxes on farm holidays Press, 15 October 1986, Page 46
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