Revenue Focus on Recipients of Airbnb Income

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The Revenue Commissioners have been writing to approximately 12,000 taxpayers to remind them to include income earned from short term lettings, such as Airbnb, on their tax returns. The letters also provide guidance on the tax treatment of this income and on how to correct returns already submitted, where necessary.

Additionally, in April this year the Revenue Commissioners published guidance entitled the “Tax treatment of income arising from the provision of short-term accommodation”, it provides guidance on the tax treatment of income arising from the provision of short-term accommodation in circumstances where a landlord/tenant relationship does not exist. The guidance can be accessed by clicking here. 

It has been confirmed that Airbnb has provided details of payments made to its customers in 2014, 2015 and 2016 to the Revenue Commissioners. In order to mitigate potential interest and penalties taxpayers should return this income as soon as possible. 

If you require any assistance with preparing your tax return or if you have any questions on income arising from short-term lettings please contact Róisín McDaid OSK Tax Advisers on 01 439 4200.

 

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