Tax

[Selena4]

Just wondering if anyone knows about the Australian tax laws with regards to being a host? Should I be saving the income how does it work? I appreciate the help! Thank you!

[Sandra126]

It is income, ergo you pay tax. Here is a good Australian link by @Louise0. https://community.airbnb.com/t5/Everything-Else/Is-it-even-worth-it-Taxation-treatment-of-in-home-ho...

[David262]

Selena, in regards to your situation - you appear to be "renting out a space", as opposed to "running as business". So your accountant will probably want to declare the money that Airbnb pays out to you as "rental income", not as "business income" - when calculating the appropriate amount of "income tax" you should pay.

In regards to "capital gains" tax, the link Sandra provides to Louise’s analysis is a useful read.