Rorts and errors by short-term rental property owners are a “key driver” of a $9 billion income tax shortfall under investigation by the Australian Taxation Office.
Some landlords are failing to disclose annual income of more than $70,000 from rental platforms used by an estimated 190,000 individuals renting out homes or apartments, according to ATO analysis.
Booming short-term rentals are, according to research group IbisWorld, providing cheap and convenient accommodation, intensifying pressure on hotels, motels and caravan parks. In some cases, the owner of the property is not aware it is being sublet by a tenant.
Bnbguard, an agency that helps strata schemes target unapproved holiday lets, has identified 110 operators in NSW who each have more than 30 properties listed on Airbnb. One host alone has listed 420 properties online.