Jan. 1, 2025, will bring several changes to laws, from Hawaiʻi to other parts of the world. In one state in Australia, a change may be of particular interest here in Hawaiʻi.
Short-term rentals are a growing focus of attention in many parts of the world, especially where housing costs are high. That is the case in many parts of Australia.
The Australian affordable housing advocacy group Everybody's Home says low-income renters have become especially vulnerable to being pushed out of housing entirely. That's led to some changes in the regulation of short-term rentals.
Starting Jan. 1, the Australian state of Victoria will impose a 7.5% tax on owners who rent out their properties for fewer than 28 consecutive days. It's a first step in giving more control to local governments to regulate short-term rentals.
The Guardian reports Victoria has about 50,000 short-term rentals. The southeastern state is home to Melbourne, the second most populous city in Australia after Sydney and a popular tourist destination.
Further regulation of short-term rentals could be coming. Melbourne's city council has discussed other restrictions including a cap on the number of days that short-term rentals are allowed in a year.
But for now, short-term rentals will remain legal, just more expensive for the owners.
A government spokesman says most of that tax money will go towards paying for affordable housing projects across the state.
