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  • Sharing economy

    The sharing economy is economic activity through a digital platform (such as a website or an app) where people share assets or services for a fee.

    If your clients are engaged in the sharing economy, their income and deductions need to be included in their tax returns.

    Sharing economy activities include:

    • ride-sourcing (also known as ride-sharing) – transporting passengers for a fare
    • renting out all or part of a home for a short-term basis
    • sharing assets, such as
      • personal assets like boats, cars or caravans
      • storage or business spaces like car parking spaces or offices
      • personal belongings like tools or sports equipment
       
    • providing services, such as  
      • delivering goods like food or parcels
      • performing tasks and activities for other people like odd jobs, cleaning or running errands
      • providing professional services like web or trade services.
       

    If your clients provide goods or services through digital platforms, consider how income tax, goods and services tax or any other tax applies to their earnings.

    If your clients are providing ride-sourcing services they need to get an Australian business number (ABN) and register for GST, regardless of how much they earn.

    See also:

    Last modified: 28 May 2020QC 49118