INSIGHT

Fact sheet: Sharing is caring - but it may also be taxable!

Media, Advertising & Marketing Startups Technology Telecommunications

In brief

A current trend in our society is our willingness to share, whether it be our home, office, or our time. This 'sharing economy' is set to grow, and with that growth comes increased ATO scrutiny.

Startups operating in the sharing economy should review their terms of engagement with users of their platforms (providers) to ensure that they have adequate tax disclaimers and should also consider putting providers on notice as to their potential tax liabilities to the ATO.

Learn more about tax obligations relating to sharing economy activities.