According to the ATO their are approximately 190,000 properties available for short term rentals such as Airbnb, using their “data matching” capabilities they shall be querying any understated or omitted income from owners.
Therefore, it is vital that you have up to date and comprehensive record keeping so that all income and deductions can be included and justified in your tax return.
to discuss further make an appointment with us on +613 9846 6542 or email info@townshendassociates.com
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