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PM tackles Airbnb rort – follows MWM investigation

by Michael West | Apr 4, 2024 | What's the scam?

What’s the scam with Airbnb landlords claiming full-year tax deductions when they only let their properties for a fraction of the year? It forces up rents and drains the Budget of an estimated $5B per year but Albo has said he intends to fix it.

Plaudits to Tim Evans, the former banker whose coverage of the issue on this website over the past year has brought action first from the Tax Office and now by PM Anthony Albanese.

“We are in the midst of the worst housing rental and affordability in living memory. This, in part, has resulted from the common practice among owners of Airbnb and short-term/holiday rental properties claiming up to 100% of annual expenses on these properties simply because they have made the properties “available to rent”, even though they may only be rented out for a fraction of the year,” wrote Evans in his analyses, which were accompanied by estimates of how much the rort was costing the Budget.

Airbnb tax rort: why is the government subsidising holiday landlords?

 

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Michael West established Michael West Media in 2016 to focus on journalism of high public interest, particularly the rising power of corporations over democracy. West was formerly a journalist and editor with Fairfax newspapers, a columnist for News Corp and even, once, a stockbroker.

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