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Australia Sharing Economy Tax Guide

the Australian sharing economy tax. The guide covers: the ride-sourcing tax obligations (the "Uber, the Didi, the Ola, the Bolt") — the ride-sourcing driver (the "passenger transport service provider") must: (a) register for the "ABN" (the "Australian Business Number"), (b) register for the "GST" (the "goods and services tax" — the "GST registration is mandatory for the ride-sourcing regardless of the turnover" — the "no $75,000 threshold" for the ride-sourcing), (c) lodge the "BAS" (the "Business Activity Statement" — the "quarterly or the monthly" to report the GST), (d) report the "income" in the tax return (the "ride-sourcing income" as the "business income"), (e) claim the "deductions" (the "vehicle expenses, the fuel, the maintenance, the phone, the platform fees"); the ride-sourcing driver must also pay the "PAYG instalments" (the "quarterly prepayments of the expected tax"); the short-term rental tax obligations (the "Airbnb, the Stayz, the Booking.com") — the short-term rental host (the "property owner renting the residential property for the short-term") must: (a) register for the "ABN" if the rental activity is the "business" (the "regular and the systematic" — not the "private rental of the main residence"), (b) register for the "GST" if the annual turnover from the rental exceeds $75,000 (the "standard GST turnover threshold"), (c) report the "rental income" in the tax return (the "rental property income" at the "Item 21" for the "rental property schedule"), (d) claim the "deductions" (the "management fees, the cleaning, the utilities, the depreciation, the interest"); the gig economy tax obligations (the "Airtasker, the Freelancer, the Fiverr, the Upwork") — the gig worker (the "service provider" on the "online platform") must: (a) report the "all income received through the platform" as the "business income" or the "other income", (b) register for the "ABN" and the "GST" if the turnover exceeds $75,000, (c) claim the "deductions" for the "expenses related to the gig work" (the "equipment, the software, the internet, the marketing").

ATO Data Matching for the Sharing Economy

  • Platform data reporting: The ATO requires the "sharing economy platforms" (the "Uber, the Airbnb, the Airtasker") to report the "transaction data" to the ATO under the "sharing economy reporting regime". The platform reports: (a) the "name and the ABN of the provider", (b) the "total payments made to the provider", (c) the "number of the transactions" and (d) the "platform fees deducted".
  • Consequences of the non-reporting: The ATO matches the platform data against the taxpayer's tax return. The taxpayer who omits the sharing economy income may receive the "data-matching letter" (the "enquiry letter") and may face the "shortfall penalty" of 25% to 75% of the tax shortfall plus the "GIC" on the unpaid tax.
  • Record keeping for the sharing economy: The sharing economy participant must keep the records of: (a) the "income statements" from the platform (the "monthly or the weekly summaries"), (b) the "expense receipts" (the "fuel, the cleaning, the platform fees"), (c) the "vehicle logbook" for the ride-sourcing (the "12-week logbook" for the car expense claim using the "logbook method").

For the GST registration and the BAS lodgement, see our GST Guide →.

GST and the Ride-Sourcing

  • Mandatory GST registration: The ride-sourcing driver must register for the GST from the "first day of the ride-sourcing" regardless of the turnover (the "no $75,000 threshold" — the "ride-sourcing is the taxi travel" under the GST law). The driver must charge the GST on the fares and claim the "input tax credits" for the business expenses.
  • Fuel tax credits: The ride-sourcing driver may be eligible for the "fuel tax credits" (the "credits for the fuel used in the business vehicles"). The fuel tax credit rate depends on the "fuel type" and the "vehicle use". The driver must register for the "fuel tax credits" in the BAS.
  • Electric vehicle considerations: The ride-sourcing driver using the "electric vehicle" (the "EV" or the "plug-in hybrid") may be eligible for the "FBT exemption" for the "electric car" (the "zero or the low emissions vehicle" below the "luxury car tax threshold") and the "reduced running costs" (the "no fuel tax credits but the lower electricity costs").

For the vehicle deductions and the car expense claims, see our Motor Vehicle Tax Guide →.

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