Short-term accommodation across Victoria is set to become more expensive after the Andrews government signed off on an Australian-first levy.
Premier Daniel Andrews confirmed on Wednesday a short stay levy of 7.5 per cent will be added to platforms such as Airbnb and Stayz from January 1, 2025.
"We've got about 36,000 properties that are not available to the private long-term rental market, like to be leased, because they are on short-stay platforms," the Premier said. "$7.50 per $100 you pay, every single cent will go to Homes Victoria to build more houses and maintain houses. So it's a direct contribution from an asset class that... a lot of it used to be rented on a more traditional lease, it is now not available to that market.
The government estimates the levy - which forms part of Victoria's new housing statement - will generate about $70 million in revenue a year. The levy will add about $42 a night to short-term accommodation on the Mornington Peninsula and $17 to stays in metropolitan Melbourne.after reports emerged the 7.5 per cent levy was being put to cabinet for inclusion in the housing statement.
"But you have to police that, you have to enforce that, which comes with enormous burdens and costs."
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