Quick Answer: Is Homestay Income Taxable?

What medical services are GST free?

The health and medical services that are GST-free fall into the following categories:services of a medical practitioner or pathologist.services of allied health practitioners, such as physiotherapists, naturopaths, nurses and optometrists.hospital treatment.residential, community care and specialist disability services.More items….

Do you have to declare income from boarders?

If your income from boarders or home-stay students is lower than the weekly standard costs rate you do not need to: file an income tax return for this income. keep records of related expenses.

How much do Homestay students pay?

In exchange, hosts are entitled to about $1,000 a month. While most families abide by the industry’s rule of no more than two overseas high school or university students per household, homestay coordinators say some seek to exceed the limit.

Is Homestay income taxable?

No. “Under section 6-5 of the ITAA 1997 assessable income for Australian residents includes the ordinary income derived directly or indirectly from all sources during the income year.

Who is GST applicable to?

In the GST Regime, businesses whose turnover exceeds Rs. 40 lakhs* (Rs 10 lakhs for NE and hill states) is required to register as a normal taxable person. This process of registration is called GST registration. For certain businesses, registration under GST is mandatory.

Is GST applicable to consultants?

GST rate on consultancy services : Consultancy services attracts 18% of GST Rate. Consultancy can be of any nature related to healthcare, finance, investments etc. Though there are five slab rates, but consultancy services falls under 18% slab only. Other GST slabs are 0%, 5%, 12%, 18% and 28%.

Where is GST not applicable?

What goods and services are not covered under the GST? Items that are exempted from GST are live fish, fresh fish, bird’s eggs in the shell, fresh milk, fresh ginger, garlic, grapes, melon, unroasted coffee beans, unprocessed green tea leaves, etc. Corn, rice, wheat, maize, soybean, hulled cereal grains, etc.

Which services are exempt from GST?

All the services related to agriculture including harvesting, cultivation, supply, packaging, warehouse, renting or leasing of machinery, etc. are exempted from GST. However, this does not include the rearing of horses. Transportation of individuals via public transport, metered cabs, auto-rickshaws, metro, etc.