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This includes the short-stay levy, which passed the Victorian Parliament in October 2024. The levy imposes a mandatory 7.5 per cent levy on short-stay properties across Victoria. Limited exemptions are in place.","text",{"type":449,"content":455},[456,458,463],{"text":457,"type":453},"The 7.5 per cent short-stay levy will apply to the booking fees for accommodations rented for less than 28 consecutive days. This includes cleaning fees and GST charges but excludes credit card fees. The levy applies to entire homes or apartments, private rooms in non-principal places of residence, granny flats, and tiny homes. It ",{"text":459,"type":453,"marks":460},"does not",[461],{"type":462},"bold",{"text":464,"type":453}," apply to stays in hotels, motels, or principal places of residence, even if the home is rented out temporarily while the owner or tenant is away. Bookings lasting 28 consecutive days or more are exempt.",{"type":449,"content":466},[467],{"text":468,"type":453},"The levy must be paid by the booking platform if the initial booking is made through one or by the property owner or tenant for direct bookings. Revenue raised from the levy is earmarked to fund Homes Victoria’s housing projects, with 25 per cent of funds allocated to regional Victoria. The government initiative aims to support housing affordability and availability. There is an anticipated impact on costs and management arrangements in the short-stay accommodation market.",{"type":449,"content":470},[471],{"text":472,"type":453},"Accurate reporting is crucial, as failure to comply with return requirements may result in penalties. Agents can assist clients by ensuring proper documentation, clarifying liabilities for owners and renters, and staying updated on exemptions to maximise compliance and streamline property management obligations.",{"type":449,"content":474},[475,477],{"text":476,"type":453},"Find the SRO’s updated content on the levy ",{"text":478,"type":453,"marks":479},"here",[480,484,485],{"type":481,"attrs":482},"link",{"href":483,"uuid":376,"anchor":376,"target":376,"linktype":46},"https:\u002F\u002Fwww.sro.vic.gov.au\u002Fshort-stay-levy?utm_source=State+Revenue+Office+Victoria+List&utm_campaign=c84e1e7187-EMAIL_CAMPAIGN_2024_12_18_12_06&utm_medium=email&utm_term=0_-c84e1e7187-215323453",{"type":462},{"type":486,"attrs":487},"textStyle",{"color":19},"TextContent","small","Short Stay Levy in Place Effective 1 January",{"id":376,"alt":376,"name":19,"focus":376,"title":376,"source":376,"filename":19,"copyright":376,"fieldtype":370,"meta_data":492},{},"The SRO has issued reminders on changes to Victoria’s tax system, effective 1st January 2025. This includes changes to the short-stay levy, which passed the Victorian Parliament in October 2024.","NewsDetail",[],"short-stay-levy-in-place-effective-1-january","our-industry\u002Fnews\u002Fshort-stay-levy-in-place-effective-1-january",-6960,376271414,"fc5e6615-64de-4ca3-a790-4dd524a9c8d0","2025-01-14T22:57:10.389Z",[],[],[]]