The federal government is planning a tax crackdown on the 11 million Australians who earn income from platforms such as Uber and Airbnb. It is estimated that income from shared-economy platforms now totals around $15 billion a year, but at present the Australian Taxation Office (ATO) is unable to determine the extent of underpayment or non-payment of tax on such income. The government proposes to introduce mandatory tax liability reporting for people who work in the shared economy and will release a discussion paper on the issue on 23 January. From The Australian:
The crackdown would mean those platforms operating in Australia will be required to report data to the tax office so that the earnings of those participating in them could be properly assessed for potential tax liabilities…
