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Homestay Tax Implications. You must include rental income in your tax return. You need to use the actual cost method.
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Homestay programs are mediated through agents 90 per cent of time, homestay australia says; Host families offer discounts for long term stays making homestays an ideal option for international students, interns or those relocating. Jun 22nd, 2013 8:50 pm.
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Harwood said ird's proposal of $50 deductions a night if the host is the home owner and $45 a night if the host rents the property was done to bring tax payers into line. The tax implications of becoming a homestay host family must also be carefully considered. Doing business across borders can pose. As a result, tax planning is a must if you want to minimize your tax bill and also make sure that you are compliant.
