What information on sellers will the ATO know?
From 1 July 2023, a new reporting regime will require platforms that enable taxi services (including ride-sourcing) and short-term accommodation to report their transactions to the ATO each year.
From 1 July 2024, the regime will expand to include all other platforms.
While the legislative instrument for the reporting regime is still in draft (see LI 2022/D27), it is expected that platform providers will report their transactions to the ATO every six months.
The platforms will submit data on the sellers for transactions on their platform including:
ABN and business / trading name (where applicable)
First, middle and surname/family name (for individuals)
Date of birth (for individuals)
Residential or business address
Email address and telephone numbers
Bank account details.
And, for platforms facilitating short-term accommodation:
Listed property name
Listed property address
Number of nights booked.
In addition, the platforms will provide aggregate quarterly data on the value of transactions, industry types, total gross income etc.
The reporting regime does not include platforms that simply match suppliers to sellers and are not engaged in the transaction such as quotes for hiring tradies where the job is not accepted through the website.
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