VACATION rental online marketplace company Airbnb hopes for additional incentives to be allocated in the upcoming Budget 2021, to further support the much-needed recovery of the nation’s economy.
In a statement released yesterday, Airbnb implores the government will provide a targeted extension of the moratorium or assistance on the repayment of mortgages on properties utilised for short term rental accommodation (STRA) activities until the tourism sector recovers.
“As Malaysia’s borders are set to be closed until year-end and may be prolonged even beyond that, this targeted assistance will support individuals who have lost their income or are suffering from pay cuts,” Airbnb head of public policy for Southeast Asia Mich Goh said.
Goh also suggest the government to provide special incentives to encourage homebuyers to purchase overhang properties for the purpose of carrying out STRA activities.
Such special incentives include favourable financing schemes and awareness programmes to encourage Malaysians to purchase unsold properties.
Apart from that, Goh recommends the government to extend several key incentives dedicated for businesses in the tourism sector, such as postponing tax instalment payments to affected businesses in the tourism sector, a one-off RM600 handout and personal income tax relief of RM1,000 on expenditure that are related to domestic tourism and digital vouchers of up to RM100 to all Malaysians, limited to domestic tourism, among others.
“We also request the government to consider extending the one-off cash assistance being provided to e-hailing drivers to Airbnb hosts, further unlocking the potential of the sharing economy within the hospitality sector,” she added. – Nov 4, 2020
