Tag Archives: sharing economy

Sharing Economy Reporting regime

The Sharing Economy Report Regime (SERR) has now commenced, for the 2023-24 income year. Only transactions for supplying taxi travel/ride sourcing and short-term accommodation need to be reported under the regime. However, from 1 July 2024, the SERR will apply to all other reportable transactions of electronic distribution platform operators (EDPs) including hiring of assets...
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Sharing economy reporting regime commences soon

As a part of the government’s strategy to combat the tax compliance risks posed by the sharing economy, it has now legislated requirements for operators of electronic distribution platforms to provide information on transactions made through their platforms to the ATO. Sharing economy usually involves two parties entering into an agreement for one to provide services...
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