What is the sharing economy?

 The sharing economy connects buyers (users) and sellers (providers) through a facilitator who usually operates an app or a website.

Popular sharing economy services include:

·         renting out a room or a whole house or unit for a short-time basis, for example Airbnb and Stayz

·         providing 'ride-sourcing' services for a fare (considered to be taxi travel) such as Uber and GoCatch

·         providing personal services, including creative or professional services like graphic design, creating websites, or odd jobs like deliveries and furniture assembly, like Airtasker and Mad Paws

·         renting out a car parking space, for example Parkhound and Spacer.

 For information from the ATO on tax obligations from providing services through ride-sourcing, click here

 If you would like to discuss this or any topic further, please email: mail@watsonerskine.com.au