Australia Considers Tracking $10.8B Gig Economy Income For Tax

Australia launched a consultation Jan. 23 on how it will track underreported tax among users of sharing economy platforms like Uber Technologies Inc. and Airbnb Inc.

• The country estimates that the sharing, or gig, economy in its jurisdiction is 15.1 billion Australian dollars ($10.8 billion)
• The consultation notes that individuals using platforms to sell services may not operate in traditional employment relationships, making it difficult for the tax authority to track underreported tax liabilities
• The tax office suggests sharing economy platforms could provide data about users under a new reporting regime to insure all their users are paying taxes ...