The Australian Taxation Office (ATO) is reminding tax professionals (that’s us!) to double-check with clients about income earned through apps and digital platforms.
Why? Because, unlike your wages or bank interest, sharing economy income doesn’t always pre-fill in your tax return. That means it’s up to you to make sure it’s declared correctly.
So… What Counts as Sharing Economy Income?
If you’ve earned money through any app, website, or platform, there’s a chance it falls into this category.
Here are some common examples:
Transport & delivery services
- Uber, Ola, DiDi
- Food delivery (Uber Eats, DoorDash)
Short-term accommodation
- Airbnb
- Stayz or other hosting platforms
Renting out assets
- Hiring out your car
- Leasing equipment or tools
- Renting a car space
Online or digital income
- Selling digital products (eBooks, templates, courses)
- Creating online content (YouTube, TikTok monetisation)
- Gaming or online entertainment
Freelance and on-demand work
- Airtasker jobs
- Fiverr or Upwork gigs
- Consulting or project-based work
👉 If you’ve ticked even one of these — it’s worth a quick chat with us.
Why This Matters More Than Ever
Here’s where things get interesting…
Under the Sharing Economy Reporting Regime (SERR), many digital platforms now report your earnings directly to the ATO.
That means:
- The ATO already has visibility over what you’re earning
- They can cross-check your tax return data
- Any missing income could trigger questions (or worse… penalties)
In other words — it’s no longer “out of sight, out of mind.”
The Common Trap Clients Fall Into
We see this all the time:
“I thought it was just a side hustle — didn’t think I needed to declare it.”
Unfortunately, income is income, even if it’s casual, irregular, or feels like pocket money.
Another big misconception:
“If it’s not pre-filled, it must not matter.”
Wrong. This is exactly what the ATO is warning about.
How to Stay on the Right Side of the ATO
No stress — staying compliant is actually quite simple:
1. Keep track of all platform income
Download statements from apps or platforms you use.
2. Don’t rely on pre-fill data
Always review your income manually — especially for side hustles.
3. Keep records of expenses
You may be able to claim deductions (fuel, platform fees, equipment, etc.).
4. Chat with your accountant early
A quick check-in can save headaches later.
The Good News
Declaring your sharing economy income properly doesn’t just keep you compliant — it can actually work in your favour.
You may be entitled to deductions that reduce your overall tax bill, meaning you’re not necessarily worse off — just doing it correctly.
Final Thoughts (From One Human to Another)
If you’ve dipped your toe into the world of side hustles, apps, or online income — you’re definitely not alone. It’s become incredibly common.
But the ATO is catching up quickly, and transparency is the name of the game.
👉 If you’re unsure whether your income needs to be declared, it’s always better to ask than assume.
