Source: The Tax Specialist Journal Article
Published Date: 1 Jun 2017
The rise of the sharing economy has forced traditional industries to adapt to survive, and has also challenged traditional tax laws to be reviewed. There are three broad challenges that the sharing economy poses in a tax context. The first concerns the tax issues that arise for the providers of goods and services in the sharing economy. The second addresses the facilitators of sharing economy online platforms and the cross-border issues they face. The third addresses the other administrative challenges that the sharing economy presents for the ATO, particularly in relation to information-gathering and enforcement.
This article explores these challenges and also analyses crowdfunding and other types of sharing economy transactions in the Australian market, the Federal Court's Uber GST decision, the employee versus contractor divide, and compliance and registration issues for the sharing economy.
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