Almost 11 million Australians who earn money from sharing-economy platforms such as Uber and Airbnb will be subject to a new reporting regime to ensure tax is paid on income now estimated at $15 billion a year.
The crackdown would mean those platforms operating in Australia will be required to report data to the tax office so that the earnings of those participating in them could be properly assessed for potential tax liabilities.
It is understood that entities such as Uber and Airbnb are working with the Australian Taxation Office on sharing data and providing direct reporting of the income earned by Uber drivers and those offering private rental accommodation under the ATO’s formal information gathering powers.
As well as Uber and Airbnb, major players in the shared economy include online marketplaces such as Airtasker and delivery platforms such as Deliveroo and Uber Eats.
Source: theaustralian.com.au