residential property was NEVER intended to be utilised for the purpose of tourism .. that is a fact
short term rental flips the existing asset, Australian housing stock, into a market that did not exist when our tax laws, residential laws, zoning laws, etc etc were written
they all need to be reviewed and reformed to take into account changes in the market place, without consultation with the vested interest groups..
the main interest group is the Australian people..
Tourism is not a sustainable business model ( it doesn't produce anything except 'an experience' ) we need capital flowing towards manufacturing, infrastructure, agriculture, raw material processing, etc etc..
It is about tweaking legislation to direct capital towards productive returns rather than the zero sum game of better returns via short term rental versus the negative consequences of people with no where to live..
I'm a capitalist through and through.. but for me, residential property should be ringfenced as a restricted market and barriers to entry, for investment other than owner occupier or negatively geared investment for long term rental, should be erected..
By all means invest in tourism by investing in hotels, motels, build apartments, holiday flats, etc etc in zones allocated to accomodation services and not suburbia or lovely holiday house zones..
Our GOVT cannot afford to audit, regulate, investigate, etc etc the billions and billions in declared expenses / deductions in the ST rental market, especially when we consider that the 'days occupied' becomes critical.. for example 265 days occupied out of 365 has implications tax wise.. ST rental via residential housing is just a tax nightmare for the GOVT.. how many declare the 'actual' days occupied and fail to specify the personal use that they derive from these properties ?
Like I say someone with true grit, someone with cahunas is required, to literally slam the door on consultation with vested interests and get rid of AIRBNB STAYZ and the shoddy rest out of our suburbs and out of our lovely holiday house areas, once and for all and forever..
I would vote for someone who has the balls to take on the property sector and bring on a street fight about ST rental.
It's going to be much more beneficial for ordinary Australians than the voice ever would.
