What are the tax implications of renting a room?

In terms of your own tax situation, you are responsible for managing your own tax affairs.
We are unable to give tax advice, but would advise that every host should ensure they are managing their own tax affairs effectively to reduce any tax liability they may have.
We would encourage hosts to try to understand their own personal position with regards to tax.
In some circumstances hosts can earn an amount before tax when renting a room or they can avail of a specific tax break scheme, when renting their spare room, such as a ‘rent a room scheme’.
Also please be aware as part of regulatory compliance, Homestay may be obligated by law to share details with authorities with regards to sellers listed and transactions processed through the platform.