New 7.5% Short-Stay Levy: What It Means for Victoria’s Airbnb Operators
As part of the Victorian government’s housing statement, 36,000 operators of short-term rental accommodations across the state will be subjected to a 7.5% levy on their annual revenue, starting from January 2025. The government has explained that the revenue raised from this fee, known as the “short stay levy,” will be allocated to Homes Victoria. This funding will support the organization in building and maintaining social and affordable housing throughout the state. It is hoped that the levy, alongside other measures outlined in the housing statement, will provide long-term solutions to the state’s housing and rental crisis. According to the Premier, this crisis has left the state’s most vulnerable residents without adequate housing, forcing them into rental accommodations that should otherwise be available to others. For those of you who currently have or were considering operating an Airbnb in Victoria, it is crucial to factor in this 7.5% levy when calculating your profits to ensure that it remains a viable option. If you need any advice regarding property or finance, please don’t hesitate to reach out to us at Stellar Finance Group, and don’t forget to follow us.
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