Sharing Economy Platforms

The government is introducing a third party reporting regime for the sharing economy which will require operators of electronic platforms within the sharing economy to report identification and payment information regarding participating sellers to the ATO for data matching purposes.
It is intended that the reporting regime will apply to transactions that relate to the supply of:

  • Ride-sourcing and short-term accommodation from 1 July 2022

  • Asset sharing, food delivery, tasking-based services and other services (except for transactions where only the title or ownership of goods or real property are exchanged, and relating to financial supplies) from 1 July 2023.

You need to ensure you are reporting all income from platforms such as Airtasker, AirBnB, Uber, Car Next Door, Book My Boat, Deliveroo, Hipages.

Paul AbercrombieAbercrombie Accoutning Group