Daily Tax Report ®

Australia Considers Tracking $10.8B Gig Economy Income For Tax

Jan. 23, 2019, 2:23 PM

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...
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