Menu


Pursuit Insights offers updates and snippets from our industry, If you should wish to discuss anything further, please do not hesitate to contact our office

AirBnB: Bed, Breakfast and Undeclared Income

  AirBnB: Bed, Breakfast and Undeclared Income!
Are meeting your obligations for your short term rental?


 

The Australian Taxation Office has identified a large percentage of individuals not correctly meeting their tax obligations when it comes to declaring income and deductions for their short-term rental.

Online booking and listing sites have made it nearly impossible to avoid the tax office and with the use of the new data-matching technology, they are looking to review up to 200,000 tax payers who fall into this category.

Individuals who are in the short-term rental game, need to be aware of the tax consequences associated with the income. In addition, there are most likely tax deductions being missed as a part of this process, so it is best to speak to your accountant if you are unsure.

For more information, the full article can be found here

If you would like to discuss this further, please do not hesitate to contact the team at Pursuit Advisers.

Pursuit Advisers
(03) 5623 3778
82 Smith Street, Warragul VIC 3820



"seen as a very important part of our organisations future. The level of service is well above what would be considered the norm"

Dale Sumner - General Manager of Lakes Entrance Fishermens Co-op & Leftrade Limited

"From the front desk to the director is outstanding, I have replies to my emails within the same day to answer any question. My Wife and I have been able to take our business to the next level"

Ben and Julie Whiteley

"They provide us with well-researched financial and business advice, take care of all our tax responsibilities and financial needs, and even check in from time to time to see how we’re going"

Jessie Ballantyne- Director of The Grants Hub

"Business has grown immensely which is a testament to his effectiveness, guidance and good common sense approach"

Robert Radford- R. Radford & Sons Pty Ltd

"They have taken the time to get to know us as a business, and go above and beyond in helping us grow."

Jessie Ballantyne - The Grants Hub