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  • Sharing assets (excluding accommodation)

    When you rent out or hire (share) assets you own or lease through a digital platform, you:

    • need to declare all income you receive in your income tax return
    • are entitled to claim certain expenses as income tax deductions
    • need to keep records of the income you earn and of the expenses you can claim as deductions.

    There are many types of assets that can be shared through a platform, including:

    • personal assets like bicycles, boats, cars and caravans/recreational vehicles (through platforms such as Car Next Door, Camplify or Get My Boat)
    • storage or business space like car parking spaces, offices and kitchens (through platforms such as Spacer, Parkhound or Rubberdesk)
    • personal belongings like tools, equipment and clothes (through platforms such as Toolmates, Kindershare or The Volte).

    Renting out all or part of your home has different rules you need to consider.

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    See also:

    Last modified: 12 Jun 2019QC 59252