Australia: Introduction of Treasury Laws Amendment (2021 Measures No. 7) Act 2021
Description
Introduction of Treasury Laws Amendment (2021 Measures No. 7) Act 2021
The Treasury Laws Amendment (2021 Measures No. 7) Act 2021 was introduced to the Australian House of Representatives. The bill includes a reporting obligation for sharing economy platform operators for transactions made on their platform. The receiver of the report would be the Australian Taxation Office (ATO). The reporting obligation shall be effective as of 1 July 2022 for taxi and accommodation-related transactions and for any other case on 1 July 2023.
Original sourceScope
Policy Area
Taxation
Policy Instrument
Indirect taxes
Regulated Economic Activity
platform intermediary: other
Implementation Level
national
Government Branch
legislature
Government Body
parliament
Complete timeline of this policy change
Key regulatory dimensions
Regulated subjects
The businesses, government agencies or individuals affected by this policy or regulatory change.
producer / supplier
1
Type
Private organisation
Economic activity
platform intermediary: user-generated content
Category
All
Policy change by business practice
The detailed activities within the scope of this policy or regulatory change.
listing: housing: marketing (any form)
Regulatory tool
Regulator reporting requirement
Sanctions
Determined by existing law or regulation
Regulated subjects
1
listing: transport: marketing (any form)
Regulatory tool
Regulator reporting requirement
Sanctions
Determined by existing law or regulation
Regulated subjects
1
listing: other service: marketing (any form)
Regulatory tool
Regulator reporting requirement
Sanctions
Determined by existing law or regulation
Regulated subjects
1