Can I use my Airbnb calendar as my private use diary?

Yes — platform booking calendars that show booked dates, blocked dates, and guest occupancy are useful records. Supplement these with notes about your own personal stays, even if they are not shown as formal bookings.

What if I do not have all my receipts from prior years?

Bank statements, credit card statements, and platform income reports can substitute for some receipts. For depreciation, a quantity surveyor can reconstruct asset values using available information. Act quickly — the longer the gap, the harder reconstruction becomes.

Do I need to keep records of cleaning expenses between guests?

Yes. Cleaning costs between guests are immediately deductible expenses (subject to apportionment for private use). Keep all invoices from cleaning contractors or records of cleaning supplies purchased.

What records do I need for Airbnb tax deductions?

Records you need for Airbnb tax deductions

Good records are essential for Airbnb and short-term rental tax deductions. The ATO specifically targets this sector in its compliance activities, and inadequate records are the most common reason deductions are disallowed.

1. Booking records

Keep a complete record of all guests:

Booking confirmation emails or platform reports
Check-in and check-out dates for each booking
Amount received per booking (gross)
Platform fees and service charges deducted by Airbnb, Stayz, etc.

Airbnb and other platforms issue annual income statements — save these each financial year.

2. Private use diary

A written diary or calendar record of all personal use periods is essential:

Dates you or family members occupied the property
Dates the property was not listed for any reason
Dates blocked for maintenance or repairs

Without a private use diary, the ATO may disallow all deductions on the basis that private use cannot be quantified.

3. Expense receipts

Keep receipts and invoices for all property-related expenses:

Cleaning and linen service invoices
Property management or platform fees
Repairs and maintenance invoices
Utility bills (pro-rated if mixed personal/rental use)
Insurance premiums
Council rates and land tax
Interest statements from your lender

4. Depreciation schedule

A quantity surveyor depreciation schedule documents:

The Division 43 capital works deduction (from the original construction cost)
Each Division 40 asset and its annual depreciation amount
The total annual depreciation figure that your accountant applies

Update the schedule when you make significant purchases or replacements.

5. Asset purchase records

Keep receipts for all furniture, appliances, and equipment you purchase for the property. These feed into your Division 40 depreciation schedule.

6. Platform income statements

Download and save your annual income statements from each platform (Airbnb, Stayz, etc.). These show gross income, platform fees, and taxes collected on your behalf.

How long to keep records

The ATO requires you to keep records for five years from the date you lodge the relevant tax return, or five years from the date you dispose of the property — whichever is later.

Written by Koste Team · Koste Chartered Quantity Surveyors · AIQS Member · RICS Member · TPB Registered · 1300 669 400 · info@koste.ai