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Homestay Tax Implications. Our host family money matters guide is an excellent read. As far as tax implications go, because you are not transferring ownership of your properties, you do not need to worry about stamp duty land tax;
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Homestay programs are mediated through agents 90 per cent of time, homestay australia says; Section 59 of the income tax act (“ita”) provides for the tax treatment. Students apply through and pay to an education agent in their home country;
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Before agreeing to become a homestay provider, potential hosts are strongly recommended to check with the department of work and pensions and/or hm revenue & customs (hmrc) to see how hosting a student may affect their entitlement to any benefits and/or tax credits they may receive. Received under a homestay arrangement. Any furniture, paint, carpets, bedding, and even light fixtures specifically purchased for the rental room or suite can also be a tax deduction. If a family hosts more than two students the ato may require an abn number.
