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Airbnb

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Newbie

Views 144

Replies 3

We are thinking of converting our granny flat into an Airbnb. 
if we purchase furniture before the end of 2020 can we claim these expenses through the instant assets write off ?

1 ACCEPTED SOLUTION

Accepted Solutions
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Most helpful response

Enthusiast Registered Tax Practitioner

Replies 2

Hi @hharr

Airbnb comes under sharing economy and is considered as rental investment not a business (instant assets write off is available for small businesses)

The following link will assist you to understand more information about this

https://www.ato.gov.au/general/the-sharing-economy-and-tax/renting-out-all-or-part-of-your-home/inco...

Hope this helps
3 REPLIES 3
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Most helpful response

Enthusiast Registered Tax Practitioner

Replies 2

Hi @hharr

Airbnb comes under sharing economy and is considered as rental investment not a business (instant assets write off is available for small businesses)

The following link will assist you to understand more information about this

https://www.ato.gov.au/general/the-sharing-economy-and-tax/renting-out-all-or-part-of-your-home/inco...

Hope this helps
Highlighted

Newbie

Replies 1

Thanks thought an Airbnb was a business, but makes more sense it is a rental. 

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Enthusiast Registered Tax Practitioner

Replies 0

No problem, happy to assist