James Kirby

Keep that in mind, folks.

Let's take a short break.

Hello, welcome back to the Australian's Money Puzzle podcast.

James Kirby here with Dr. Adrian Raftery.

Okay, now in this final segment, I'm going to look at a couple of items that are really interesting.

Once upon a time, it was fairly simple about properties and holiday properties because people just had a holiday property or they didn't and they might have rented it out

in some fashion, because what they put an ad in the local, you know, grocery in the town and said house available for one month or whatever.

Now, of course, Airbnb has arrived, has changed everything, professionalized it in some ways, and certainly made it more feasible and a completely different game.

But the tax issues around that have changed as well.

So, Adrian, what do we need to know about that?

area of holiday home tax as opposed to investment property tax.

When I say investment property, I mean conventional investment property.

This is a leisure property.

A gigantic loss on the back of it.

Yeah, of course.

Right.

I wonder, once upon a time, this was so much easier for people to evade tax responsibilities because everything wasn't networked as it is now.

But I wonder, the irony might be that Airbnb, when it came in first, of course, it was like the Wild West and people must have had a ball in that it is much more lucrative to Airbnb a property.

It's more work.

But as I understand, Airbnb hand over all the data to the tax office.