Scott's Weekly Column

ATO is watching you!

The ATO has announced that it will be launching a data-matching program to pick up those who leave out rental income and overclaim deductions on short term holiday letting properties.

The increased scrutiny of short-term holiday rentals, according to assistant ATO commissioner Kath Anderson, comes following the availability of short-term holiday rentals exploding in the online space.

The ATO plans to match the data provided by online rental platforms and their related financial institutions with ATO records to find landlords who are ignoring the appropriate checks, such as registration, reporting, lodgement payment obligations, income received per listing, listing dates, inquiry and booking rates and prices quotes and charged per night.

“We are increasingly using data and technology, to identify any missing income in your tax returns. This data will also identify taxpayers who use sharing economy rental platforms to list a property that is not genuinely available for rent to claim unwarranted deductions. There is no high-tech hideaway for rental income,” Ms Anderson said.

If have any questions surrounding holiday letting your own property or would like to have your property managed by a professional licensed holiday letting agency and avoid the scrutiny of the ATO then simply call Charlotte at Nolans Holidays on 66531463.

Charlotte and her team currently manage over 40 local holiday homes and her landlords sleep easy every night knowing that they are compliant even if the ATO comes knocking at their door!