Money you earn through digital platforms or apps, is sharing economy income and you need to report it in your tax return.
This income can include payments you receive for:
- ride-sourcing, taxi, limousine or delivery services
- short-term accommodation or property sharing
- renting or hiring out assets (for example, vehicles, equipment or parking)
- creating or selling digital content, goods or online entertainment
- task-based, freelance or on-demand services arranged online.
What you need to do
To correctly report all your income, ensure you manually include sharing economy income when you lodge your tax return.
Sharing economy platforms provide us with information about your income earned through their services. This information does not automatically pre-fill on your tax return. We use this data to check you’ve reported everything correctly.
How to report your income
How you report sharing economy income depends on how you earn it:
- Individuals without an ABN: Include the income in the 'Other income' section of your individual tax return.
- Individuals with an ABN (sole traders): Include the income as business income in the 'Business and professional items' section of your individual tax return.
- Companies: Include the income as assessable income in the company tax return.
Review your income and make sure everything from digital platforms and apps are included before you lodge.
For more information, you can read about Sharing economy and tax.
For tailored advice about your tax and super needs, speak to your registered tax practitioner.
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