• I am providing goods or services to people for a fee through the sharing economy

    When you provide services to people for a fee through the sharing economy on sites such as Airtasker, Mad Paws or others, and it's more than an occasional pastime or a hobby, you:

    • need to keep records of all income earned and declare it in your income tax return
    • need to keep records of expenses you can claim as deductions
    • you may need to register for and pay GST.

    Do I need to get an ABN and register for and pay GST?

    If you are already registered for GST, and you are earning extra money providing services through a sharing economy app or website, you need to account for GST on that extra money through your existing ABN and GST registration.

    If you do not have an ABN or are not registered for GST and you are carrying on an enterprise providing goods and services through a sharing economy app or website, then you will need to get an ABN and register for GST if your turnover is, or is expected to be, $75,000 or more per year.

    Do I need to pay income tax on money that I earn providing goods or services?

    If you are selling goods or performing a service as a spare-time activity or pastime pursued for pleasure or recreation then you may be engaged in a hobby, in which case tax or reporting obligations do not apply.

    If you provide goods or services for payment through a sharing economy website or app where it is more than an occasional pastime or hobby, then the payments you receive are assessable income.

    This means:

    • you must declare the income in your tax return
    • you can claim deductions for associated expenses.

    You declare the income and any associated expenses for the income year in your income tax return.

    See also:

      Last modified: 07 Apr 2017QC 45171