The Australian Treasury has released an exposure draft of legislation, which would require operators of electronic platforms to report to the Australian Taxation Office (ATO) identification and payment information regarding the sellers that participate on their platforms (“Sellers“). If enacted, this reporting regime will apply to transactions in the short-term accommodation and ride-sharing economies from 1 July 2022. However, the regime is drafted and stated as applying to a broader range of transactions. Platforms that facilitate transactions in all other sharing/gig economies will be subject from 1 July 2023. Interested parties are invited and encouraged to comment on the exposure draft – submissions should be made before 2 August 2021.
Source: bakermckenzie.com
