Does Airbnb still make sense with the new 7.5% income tax?

Victoria is the first Australian state to legislate a levy on revenue generated from short term accommodation platforms such as Airbnb and Stayz. The 7.5 per cent levy will commence from 1 January 2025 as is an attempt to tackle the ongoing rental crisis, which many politicians blame on the rise in popularity of short term letting platforms such as Airbnb. Although Victoria will be the first to implement an 'Airbnb tax', other states have already flagged their intention to review, and most likely implement a similar system. In today's show, we cover; whether this is fair or another case of government meddling, if it still makes sense to rent a property on a short term basis, tips and tricks for prospective owners of Airbnb properties, and when is the 'right' time to pay down investment property debt? Quirin Schwaighofer, co-founder of short term accommodation management company MadeComfy, joins James Gerrard founder of www.financialadvisor.com.au on today's show.  See omnystudio.com/listener for privacy information.