Jetting out of town for a European vacay can often be just the tonic to get you out of the working grind. But what do you do with your apartment when your away? That’s often the tricky last detail we have to sort out before taking off.
Thousands of Aussies turn to Airbnb to get their room rented out to to other worldly travelers. But the Australian Tax Office is coming for those renters who haven’t been declaring the cash they are making to cover their rent.
Armed with stern warning letters, the ATO is preparing to crack down on those who forget to report their rental income. The new letter campaign is part of the taxman’s push to have every dollar declared.
So if you’re an Airbnb user, or rent your place out on other room sharing platforms, you better double check your taxes before you submit them.