If, like hundreds of thousands of Aussie, you are someone who rents out a property on sites like AirBnb, you might want to check the mail.
The Australian Tax Office could be about to send you some.
The ATO is now starying to double check the details who are earning an income from short-term rental platforms against the income they have declared on their tax returns.
If you have made an error, a stern warning, or a fine, will be coming for you.
It’s part of an effort to make sure every Australian is reporting their correct income and paying the correct tax.
An ATO spokeswoman said “Over the next 12 months, the ATO will issue letters to those taxpayers identified as using sharing economy accommodation platforms who haven’t declared the rental income they have received.”
“The objective is to identify and educate those individuals to ensure they include the correct amount of rental income from these sources in their returns and pay the appropriate tax.
“This will ensure there is a level playing field for all people operating accommodation services in the community.”
Earlier this month, AirBnb had emailed 200,000 Australians saying “Airbnb is currently under legal notice by the Australian Taxation Office (ATO) to share information concerning your hosting activity for the period from 1 January to 30 June 2019” as part of an ATO data-matching program “which requires sharing economy rental platforms to share information concerning their users, including, for example: name, address and telephone number”.
Those who are recieving the letter are being told to amend their tax return straight away.