Sharing economy

The sharing economy, also referred to as collaborative consumption, is a way of connecting buyers and sellers, usually via an App or website.

If your clients are engaged in the sharing economy, the income and deductions from those enterprises needs to be included on their tax returns.

Examples include services such as:

  • ride-sourcing – transporting passengers for a fare
  • renting out a room or house for accommodation
  • renting out parking spaces
  • providing skilled services – web or trade services etc
  • supplying equipment, tools etc
  • completing odd jobs, errands, deliveries etc
  • renting out equipment such as tools, musical instruments, sports equipment etc.

See also:

Last modified: 30 May 2016QC 49118