The Government announced it would introduce a third-party reporting regime for the sharing economy in the 2019-20 Mid-Year Economic and Fiscal Outlook.
The reporting regime will require operators of electronic platforms within the sharing economy to report identification and payment information regarding participating sellers to the ATO for data matching purposes.
It is intended that the reporting regime will apply to transactions that relate to the supply of:
- Ride-sourcing and short-term accommodation from 1 July 2022
- Asset sharing, food delivery, tasking-based services and other services (except for transactions where only the title or ownership of goods or real property are exchanged, and relating to financial supplies) from 1 July 2023.
Feedback from stakeholders is sought on the attached Exposure Draft legislation.
You can find further background (including submissions) in the January 2019 consultation process.