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The sharing economy in Australia is growing rapidly and attracting more and more interest from Australians wanting to earn some extra income. Renting out a spare room or driving people around town might seem like a simple way to earn a few extra dollars, but it can become complicated for tax payers when tax time rolls around. The ATO are continuously making advancements in data-matching technology and are warning tax payers of the importance of declaring any income received from services in the shared economy. Follow the links below for further information.
The ATO is data matching to catch tax-dodging Uber drivers and Airbnb landlords. (2017, January 16). Retrieved February 01, 2017, from http://www.businessinsider.com.au/ato-is-data-matching-to-catch-tax-dodging-uber-drivers-and-airbnb-landlords-2017-1
If you're one of the thousands of Australians doing this, you'd better watch out. (2016, June 23). Retrieved February 01, 2017, from http://www.news.com.au/finance/small-business/tax-office-cracks-down-on-sharing-economy/news-story/55bfade6f14168c42bc7f9f444e781f7