New ATO Reporting Requirements Impact Publishers on Australian Microsoft Store and Commercial Marketplace

October 1, 2024 Microsoft Partner News

The Australian Taxation Office (ATO) has recently implemented new reporting requirements that affect publishers who transact or have the ability to transact in the Australian Microsoft Store and Microsoft commercial marketplace. This change was initiated earlier this year, under the Sharing Economy Reporting Regime (SERR), which mandates that these platforms collect and report seller transactions.

In order to comply with the new SERR reporting requirements, the Microsoft Store and Microsoft commercial marketplace have begun gathering and reporting specific information. This includes the Australian Business Number (ABN) and business name where applicable, as well as the Foreign Tax ID for foreign nonindividual publishers without an ABN. For individual publishers, the first, middle, and surname, along with the date of birth, are required.

Additionally, the ATO requires the collection of the residential or business address, email address, telephone number(s), and bank account details of the publishers. The purpose of collecting this information is to enable the ATO to carry out data matching activities. This ensures that publishers on Microsoft's Australian electronic distribution platform are declaring the correct level of income and activity.

The new reporting requirements are a significant change for publishers who transact or are able to transact in the Australian Microsoft Store and Microsoft commercial marketplace. It is crucial for these publishers to be aware of these changes and ensure they are providing the necessary information.

Microsoft has stated that if any action is required from the publishers, they will be contacted with further information. This proactive approach by Microsoft will help publishers navigate these new requirements and ensure they remain compliant with the ATO's regulations.

In conclusion, the new reporting requirements by the ATO are a significant development for publishers transacting in the Australian Microsoft Store and Microsoft commercial marketplace. By understanding and complying with these requirements, publishers can ensure they meet their tax obligations and avoid potential penalties.

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