AirBNB Incomes in the spotlight: AirBNB Tax Returns

AirBNB tax returns involved complicated calculations and apportionment of income and expenses on AirBNB hosts’s tax returns. Just in case if you missed out on declaring any of your AirBNB income just like UBER does, AirBNB is also following suit and declaring what they paid out in income to AirBNB hosts. Should you as a AirBNB host not have declared AirBNB income on your tax return, the ATO may come knocking. We specilaise in complex AirBNB tax returns and can assist tax payers to claim proper deductions and report the correct income. AirBNB tax returns are different to standard investor property tax returns since, there are a multitude of tenants involved, then there is the fees paid to AirBNB and then you have the costs involved with the setup and management of the short term rental. If you are in need of tax advice or guidance in regards to your AirBNB tax returns, contact us and we shall be able to help lodge your tax returns with the tax office.
AirBNB has provided information pertaining 190, 000 property owners & hosts who earned income in the previous years from their activities of leasing their properties. You may be either renting or owning the property outright or may have a mortgage on your property, the ATO now knows how much you made.
It would be advisable for you to engage us should you need assistance before the ATO contacts you, since a delay could cost dearly by way of penalties as well as penalty interest.