Sharing Economy Reporting Regime starts 1 July

June 27, 2023

The ATO reminds agents with clients who earn income by providing taxi travel (including ride-sourcing) or short-term accommodation, to make sure they are aware of their new tax obligations. From 1 July, the electronic distribution platforms they sell through will be required to collect and report seller transactions to the ATO as part of the new Sharing Economy Reporting Regime (SERR).

The SERR will not change the way their clients report their income or the way they work, but they may need to provide extra information to the platform so it can meet the new reporting requirements.

Information the platform will ask for includes:

  • ABN and business name (where applicable)
  • first, middle and surname/family name (for individuals)
  • date of birth (for individuals)
  • residential or business address
  • email address and telephone numbers
  • bank account details.

The SERR will help the ATO increase community confidence in our tax systems and to help identify those who are not meeting their obligations. Agents can help their clients better understand their obligations working in the sharing economy, by visiting Sharing economy and tax.