Short Term Accommodation – Tax Issues
Overview
Uncover the tax implications of short and long-term rentals on platforms like Airbnb and Booking.com—many hosts are unaware until it’s too late
These short term accommodation providers are a great example of innovation in the sharing economy, allowing hosts to connect with potential renters through their platforms. Whether you simply want to rent out a room or a complete property, a short term accommodation provider could be for you.
However, the tax consequences of renting out a property through these providers are still not properly understood by hosts, with many not even realising there are tax implications until it is too late.
This session will explore the tax implications of Airbnb and other similar platforms. Amongst the matters covered will be:
- Capital Gains Tax issues, including the main residence exemption and the small business CGT concessions
- Assessable income – what is taxed?
- Claiming deductions – getting it right
- Subleasing
- Is Airbnb income business or rental? What difference does it make?
- GST and rental income
- The ATO compliance approach to renting a room
- PAYG instalments
Learning Outcomes:
This session will provide a comprehensive guide to the tax implications of Airbnb and other similar online platforms, including some areas that might be ticking time-bombs for clients!
Suited to:
Suited to accountants and tax professionals with clients involved in short and long term property rental, as well as property investors hoping to get ahead in their understanding of how tax law applies to them.
This On Demand Includes:
- Recording of the Live Webinar, which can be viewed multiple times
- PowerPoint Presentation
- Verbatim Transcript, with Searchability
- Supporting Documentation
- CPD Quiz
- CPD Certificate
Course syllabus
3 lessons
- Video – Short Term Accommodation – Tax IssuesVideo
- Feedback Survey 2024Survey
- Knowledge QuizTest
Your presenter
Mark ChapmanH&R Block
, Tax Communications Director, H&R Block.
Mark writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.
Mark is the author of Life and Taxes: A Look at Life Through Tax and has edited and updated the second through to the seventh editions of Australian Practical Tax Examples, published between 2019 and 2024, by Wolters Kluwer CCH Australia.