Australia introduces Sharing Economy Reporting Regime from 1 July 2023

Australia introduces Sharing Economy Reporting Regime from 1 July 2023

Platform operators within the scope of the reporting obligations will need to start reporting eligible supplies made through their interface by sellers. First taxi services and short-term accommodation will become reportable form 1 July 2023 before the scope of the reporting regime extends to all other reportable supplies made from 1 July 2024. The Australian government is introducing this reporting regime to get transparency on the sharing economy and ultimately improve tax compliance in Australia.