Tax collectors eye Airbnb and Uber
The federal government’s key tax adviser and the Australian Taxation Office have launched a fresh assault on the burgeoning sharing economy, including considering sanctions for people who operate outside the tax system built up around technology disrupters Airbnb and Uber.
The Board of Taxation, which advises the government on the development of tax policy, has embarked on a two-year program with the ATO to improve collection mechanisms and tax documentation across a range of industries. The work has been sanctioned by the Minister for Revenue, Kelly O’Dwyer. A prime focus is the $500 million sharing economy, which includes services provided through companies such as Airbnb and Uber.
Read the full story at The Australian.