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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

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