SETP Reporting - ATO Website Details

Sharing Economy Taxable Payment Reporting - More Details

The information below is sourced from the ATO website and more details can be found here.
Note that the ATO uses Sharing Economy Reporting Regime (SERR) and Sharing Economy Taxable Payments (SETP) interchangeably.

When SERR starts
Sharing Economy Reporting Regime (SERR) begins for transactions made from 1 July 2023 for supplying:

taxi travel including ride-sourcing
short-term accommodation, which we consider to be 90 consecutive days or less

Reporting begins for all other reportable transactions made from 1 July 2024.

Why the ATO wants to collect this information
This reporting regime will allow the ATO to:

increase community confidence in the integrity of the tax and super systems
identify and educate participants who fail to meet their registration or lodgment obligations and help them comply
gain insights from the data to help us develop and implement engagement strategies to improve voluntary compliance - including educational or compliance activities
btain intelligence to increase our understanding of behaviours and compliance profiles of participants in the sharing economy, such as ride sourcing or service providers

Platforms that must report under SERR
If you operate an Electronic Distribution Platform (EDP) you must report transactions made through your platform.

Under SERR, an EDP is a service that:

allows sellers to make supplies available to buyers (for example, guests booking accommodation or passengers booking car rides)
is delivered via electronic communication.

A seller is an entity that makes supplies via an EDP. A buyer is the end user of the supplies.

An EDP can be, but is not limited to:

a website
internet portal
gateway
application
online store
marketplace

Platforms are not considered an EDP if they only provide:

carriage services that transmit electronic communications
access to payment systems or payment processing services
advertising that makes customers aware of products and links them to a merchant's website

Transactions reportable under SERR
EDP operators must report transactions:

when a seller uses their platform to make a supply that is connected with Australia (including its external territories)
that are available to end users and receive payment or other consideration for the supply

This includes ride sourcing, short-term accommodation, hiring (not selling) of assets and services made available through the platform. Assets hired could include personal assets, storage or business space. Services could include food delivery, professional, performing tasks and activities.

How to report under SERR
EDP operators must prepare their report in the approved form. This is a validly generated XML file.

A report is only considered lodged in the approved form if the form is complete. Failure to properly complete this form may result in an error and rejection of the report. You will need to ensure any errors are resolved before you can re-lodge.

EDP operators that have an ABN need to lodge their report through Online services for business.

Overseas platform operators without an ABN need to lodge via Online services for non-residents External Link.

When to report under SERR
The reporting periods under SERR are:

1 July to 31 December - report must be submitted by 31 January of the following year
1 January to 30 June - report must be submitted by 31 July of that year.

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Sharing Economy Taxable Payment Reporting - More Details