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ATO Notes New Reporting Regime for Sharing Economy Platforms

12 October 2023

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Approved Changes

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Australia

The Australian Taxation Office (ATO) has issued a notice on the new reporting regime for sharing economy platforms. --- New reporting regime for sharing economy platforms Do you have clients whose business connects customers with people who provide services or hire personal assets through a website or an app? If so, they're operating in the sharing economy. The Sharing Economy Reporting Regime (SERR) is a new reporting requirement for sharing economy platforms. Under SERR, platforms need to collect and report information about seller transactions that happen through the platform. These details include: personal (e.g. surname, first name, date of birth)...