Business

Tax department to watch Rugby World Cup windfalls

16:31 pm on 26 July 2010

Inland Revenue is warning people who rent out their homes for next year's Rugby World Cup that they will incur a tax bill.

More than 85,000 visitors are expected to pour into the country spending up to $500 million.

Commissioner Bob Russell says more homeowners than usual are expected to rent out their home, and that rent must be declared as income.

The department will also monitor ticket scalping.