Background
The Sharing Economy Reporting Regime (SERR) requires digital platforms to collect and report information about suppliers (also called sellers) who earn income through their platform. This information is then reported to us, providing visibility of third party income.
The SERR was established under Subdivision 396-B of Schedule 1 to the Taxation Administration Act 1953. This subdivision creates a third-party reporting obligation, requiring entities to report information to the Commissioner of Taxation about transactions that could reasonably be expected to have tax consequences for entities connected with Australia.
Information to be reported
Under the SERR, Electronic Distribution Platform (EDP) operators must report income earned by suppliers when payments (in whole or in part) flow from an end user (customer) to a supplier via the platform. See:
- Who needs to report under the SERR for guidance in determining whether you are an EDP operator
- What activities are covered under SERR? to view a sample list of activities that may be reportable under this regime.
Why we collect this information
The SERR is a third-party reporting regime introduced to ensure that EDPs report information about suppliers engaging in recognised sharing economy activities. The regime aims to:
- help taxpayers meet their tax obligations
- promote a level playing field across industries
- provide transparency around income earned through digital platforms
- increase community confidence in the integrity of the tax and superannuation systems
- identify and educate participants who fail to meet their registration or lodgment obligations and help them comply
- gain insights from the data to support the development of engagement strategies that improve voluntary compliance, including education and compliance activities
- obtain intelligence to better understand the behaviours and compliance profiles of participants in the sharing economy.
Reporting dates
EDP operators must report transactions made through their platform twice a year by:
- 31 January – for transactions between 1 July to 31 December.
- 31 July – for transactions between 1 January to 30 June.
SERR reporting commenced on 1 July 2023 for EDPs supplying:
- taxi services, including ride-sourcing
- short-term accommodation.
From 1 July 2024, reporting was expanded to include all other reportable transactions under SERR.