AirBnB rental income tax or business tax?

[webmister]

I work full time and also GST registered for business. My work tax is deducted by employer. I have to file GST Activity Statement for other business activities that I do part time. Do I file AirBnB income in GST Activity Statement or do I file it in annual income tax returns?

[Ken]

38 minutes ago, webmister said:

I work full time and also GST registered for business. My work tax is deducted by employer. I have to file GST Activity Statement for other business activities that I do part time. Do I file AirBnB income in GST Activity Statement or do I file it in annual income tax returns?

Current ATO advice is that you don't need to charge GST https://www.ato.gov.au/general/the-sharing-economy-and-tax/renting-out-all-or-part-of-your-home/  but beware that it's a grey area because while Residential property isn't subject to GST (and hence you don't need to include them on your activity statement) Serviced apartments are subject to GST - so if the ATO were to decide in the future that Airbnb are more akin to Serviced Apartments than they are to residential property things could change.

You need to include in your annual income tax returns regardless of whether they are on your GST activity statement or not.