In the ATO’s Sights: Contractors & Taxi / Ride Sharing Providers (Mar 25 Tax Update)

Relevant For:

Small-business contractors and taxi / ride-share service providers.

Key Points:

• ATO releases statement putting contractors and taxi / ride-share service providers on notice.
• Contractors must report all income accurately.
• Businesses report contractor payments via TPAR to the ATO.
• Taxi and ride-share providers must register for GST regardless of turnover.
• Non-compliance risks audits, penalties and interest charges.

Full Article:

Operating outside Australia’s tax system carries serious risks and the Australian Taxation Office (ATO) has recently