Another reporting regime: Moving to data reporting readiness

As discussed by Kavita Panjratan & Alicia Lennon, the proposed measures have arisen out of Treasury’s Black Economy Taskforce to manage tax compliance risks posed by the sharing economy.

Treasury has released consultation exposure draft legislation to implement a reporting regime for “sharing economy platform providers”.  The proposed legislation would require entities that operate electronic distribution platforms to report to the Australian Taxation Office (ATO) details about transactions relating to supplies made through those platforms. The reporting regime would apply from 1 July 2022 or 1 July 2023 depending upon the category of the supply. The measures have ari...

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Authors: Kavita Panjratan, Alicia Lennon

Published Date: 08 July 2021