The Australian Taxation Office (ATO) has announced that it will be collecting data from online accommodation platforms such as Airbnb and short stay accommodation providers in order to increase equity between traditional accommodation providers and the short stay accommodation sector.
The ATO has announced that it will;
- Collect data to identify individuals that have or may be engaged in providing accommodation services through an online platform during the 2016-17 to 2019-20 financial years.
- Acquire details of all payments made by online accommodation platforms to accommodation providers, including payments made by international entities for the 2016-17 to 2019-20 financial years
The purpose of this new program is not only to ensure taxpayers abide by their taxation obligations but importantly, to ensure they are meeting registration, lodgement and reporting responsibilities.
To read the full media release from the Australia Hotels Association of Western Australia, click here.