Reporting your sharing economy income

August 13, 2023

1 min read

Small Business

Starting July 1, electronic platforms like Stayz, Airbnb, Uber, and Didi must collect and report seller transactions to the ATO under the Sharing Economy Reporting Regime (SERR).

From 1 July, electronic distribution platforms that provide short-term accommodation (such as Stayz or Airbnb) or taxi travel, including ride-sourcing (such as Uber or Didi), are required to collect and report seller transactions to the ATO as part of the new Sharing Economy Reporting Regime (SERR).

The platforms through which you provide sharing economy services may ask you for more information to meet their obligations under the SERR including:

ABN and business trading name
first, middle and family name
date of birth
residential or business address
email address and telephone numbers
bank account details.

Check with your platform for more information on their privacy policy. There are laws protecting the privacy of information held by the ATO.

For more information on your obligations in the sharing economy, see sharing economy and tax.

Remember, the team at Cotchy are here to help you with your tax. Contact us today!

Source: ATO Newsroom

Pat Mannix

Founder and Partner - CPA | Pat Mannix champions small business people. A Melbourne-educated CPA with more than 35 years' experience, Pat led the growth of his family's accounting firm before founding Cotchy to bring accounting, bookkeeping, taxation and advisory services together for growing Australian businesses.