The Australian Taxation Office (ATO) has proposed specific exemptions from the Sharing Economy Reporting Regime (SERR) for online platforms.
The exemptions are in compliance with the OECD’s Model Reporting Rules for Digital Platforms and the EU’s DAC7.
Under the SERR, it has been a requirement for short-term accommodation, taxi travel, and ride-sharing transactions to be reported since July, 2023. Starting from July 2024; these reporting obligations are being broadened to include long-term accommodation, services, shared spaces, and intangible assets such as apps, eBooks, games, software, podcasts, and videos.
The ATO has issued the Taxation Administration (Reporting Exemptions for Electronic Distribution Platform Operators) Determination 2024 (LI 2024/D1) which outlines proposed reporting exemptions for services provided outside Australia, which potentially includes a wide array of supplies by non-residents; transactions involving substantial property; particular booking or reservation services, as well as specific passenger travel services; and transactions with suppliers who lease over 50 assets on a platform.
These proposed exemptions apply to supplies that incur a goods and services tax (GST) liability for the supplier or electronic distribution platform (EDP). Therefore, they might still be required to report obligations that are different from those normally required for GST purposes.
