Earned an income from the sharing economy?

It’s essential that any income earned from sharing economy platforms such as Airbnb, Stayz, Uber, etc., is declared in your tax return.

TaxationJPR BUSINESS GROUP5 July 2024sharing economy, uber, airbnb

Uber style ride sharing and FBT

The ATO has confirmed its view that travel in ride sharing services is not exempt from FBT under this specific exemption as they do not meet the definition of a taxi service under the FBT laws (even though they do under GST law).

However, this does not mean that FBT will necessarily apply to travel undertaken by employees using a ride sharing service.

Corporate Secretarial, TaxationJPR BUSINESS GROUP9 August 2019FBT, Fringe benefit tax, ride share, uber, taxation