Data Matching - Sharing Economy (Accommodation)

Data Matching Program - Sharing Economy Accommodation 2016-17 to 2019-20 financial years

The ATO have published a notice outlining a data matching program relating to on-line accommodation platforms such as Airbnb. The ATO will receive comprehensive data from these providers including details of rent received, for comparison with what is included in the owners tax return.

For details regarding the ATO views on the tax impacts of operating in the sharing economy, including use of your own residence see: https://www.ato.gov.au/General/The-sharing-economy-and-tax/Renting-out-all-or-part-of-your-home/. For details of the data matching program see: https://www.legislation.gov.au/Details/C2018G00634

Chancellors Comment

It is important to note that GST may be relevant if you are supplying serviced accommodation and or meals. Note also that conducting income producing activities using your main residence can impact the extent to which you can access the CGT Main Residence Exemption.