Airbnb isn’t just a hobby, it’s a business.

That’s the message from the Australian Taxation Office to those who use the popular home-sharing service to lease out their properties.

More than 200,000 Airbnb homeowners will be affected.

Airbnb sent an email out to its Australian members on Thursday night, warning that their personal details – names, addresses and emails – would be given to the ATO.

“Airbnb is currently under legal notice by the Australian Taxation Office (ATO) to share information concerning your hosting activity from the period from 1 January to 30 June 2019,” the email read.

The move comes after the ATO promised to force those working in the so-called “gig economy” to pay their fair share of tax.

The ATO believes people are refusing to declare the income they get from using Airbnb because they believe it’s just a hobby.

Failure to declare income to the tax office could result in heavy penalties and even jail time.

The crackdown could see also result in an increase in prices for those looking to stay in Airbnb properties.

Source – https://7news.com.au/business/tax/airbnb-sent-urgent-warning-of-massive-tax-crackdown-from-ato-c-498314?fbclid=IwAR1p5hQ-4cOyWWnhNCYoovgvgO_iS4a6BTuEmFEuNHNpveuz1xeHKRFD3X8