LEASE AND RENTAL SERVICES – AUSTRALIA

$9b tax hole linked to Airbnb-style deals

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Original article by Duncan Hughes
The Australian Financial Review – Page: 9 : 6-Nov-19

The Australian Taxation Office estimates that some property owners have undeclared income of more than $70,000 a year in earnings from short-term rental platforms such as Airbnb. This has contributed to an income tax shortfall of around $9bn. The ATO has used data-matching technology to compare income from tax returns with financial records provided by rental platforms. The ATO will write to home owners asking them to review their tax return, their income earned and the expenses they have claimed.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AIRBNB AUSTRALIA PTY LTD, STAYZ PTY LTD, HOMEAWAY.COM INCORPORATED, FLIPKEY, BOOKING.COM (AUSTRALIA) PTY LTD, IBISWORLD PTY LTD, BNBGUARD

Seven takes Coates from Carlyle in lucky break

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Original article by Carrie LaFrenz, Tess Ingram
The Australian Financial Review – Page: 15 & 20 : 21-Sep-17

Diversified conglomerate Seven Group Holdings will assume full ownership of Coates Hire after securing a deal to buy The Carlyle Group’s stake. Shares in Seven Group closed 9.8 per cent higher at $A12.28 after the $A517m deal was announced on 20 September. Carlyle had considered listing Coates Hire on the sharemarket earlier in 2017, and Seven CEO Ryan Stokes has not ruled out an IPO for the equipment rental firm in the future. The proportion of Seven’s revenue that is derived from industrial services will rise to 70 per cent as a result of the deal.

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, COATES HIRE LIMITED, THE CARLYLE GROUP, CARLYLE ASIA PARTNERS LP, WESTRAC HOLDINGS PTY LTD