Like any business, we’re required to comply with tax laws. When you earn funds on Upwork, you’re also required to follow the tax regulations that apply to you.
As of July 1, 2024, Australia’s tax directive, Sharing Economy Reporting Regime (SERR), imposes tax reporting obligations on online marketplaces. For freelancers based in Australia or its territories, we are required to report to the Australian Taxation Office on all payments made to you, regardless of the number of transactions or amount.
We are required to report this information semiannually, in January and July. Transactions from July 1 to December 31 must be submitted in January of the following year, and transactions from January 1 to June 30 must be reported in July of that year.
What Do Freelancers Need to Do on Upwork for SERR?
Make sure the details on your tax information page are complete, accurate, and up to date, including your location or residence and your Tax Identification Number (TIN). Providing valid tax information is required by SERR regulations.
Note:
If your tax information is not entered or not valid, it will result in limitations on your account, including restrictions on withdrawing funds.
How to View Your Tax Form
We’ll notify you by email and with a notification banner when your SERR tax form is ready, with a link to your account's Tax forms.
You can also go to your Tax forms page to view it at any time once it’s ready. Just select Tax forms in the drop-down menu under Manage finances on the main navigation bar.
What It Contains
Your SERR tax form will contain your identifying information and all your Upwork transactions for the six-month reporting period and your bank information, including:
- Total of gross earnings minus refunds: Gross earnings are your total earnings before any refunds, taxes, fees, and commissions are deducted. Australia only allows the deduction of refunds from gross earnings for the report.
- Total fees and commissions: Includes all payments to Upwork, such as Connects purchases, payment transfers, and freelancer service fees, including GST taxes collected on these fees.
- Total taxes: The GST taxes that Upwork must collect in order to comply with local tax laws.
- Total number of transactions: All earnings transactions within each six-month reporting period.
- Bank account information: Includes your bank account’s name, type, identifier, and number for accounts where your payment withdrawals from Upwork are deposited. Information for Payoneer or PayPal accounts is also included if applicable.
Note:
All figures in SERR tax forms will be listed in AUD.
If you are located in Australia or its territories and had income on Upwork during the reporting period, you are eligible to receive a SERR tax form. There is no minimum number of transactions or earnings to qualify for SERR reporting.
You must complete the appropriate form (Form W-8BEN, W-8BEN-E, or W-9) and update your tax residence in order for us to determine whether you live in Australia. We cannot send you a SERR tax form without an Australian tax residence.
Disclaimer:
This article is meant for general information only and not to be considered tax advice. Consult your country’s tax authority or your tax advisor with questions related to your specific situation.
Frequently Asked Questions
SERR, or the Sharing Economy Reporting Regime, is an Australian law that focuses on money people make for providing services on digital platforms. This law makes it simpler for local tax authorities to collect the right amount of taxes.
For people earning on platforms like Upwork — freelancers or agencies in Australia or its territories — SERR requires you to share how much money you make on the platform. It's part of Australia’s effort to make sure everyone follows the same reporting requirements for taxes.
SERR regulations require that you provide valid and accurate tax information. Ensuring we have the correct tax residence address and the Tax Identification Number (TIN) on file allows us to correctly file your SERR report as required by Australian tax authorities. If your tax information is not valid, it will result in limitations on your account, including restrictions on withdrawing funds.
If you’re a freelancer or business with financial activity on Upwork during the reporting period, and you are located in Australia or its territories, you are eligible to receive a SERR tax form.
No, there is no minimum for income from services you provide through Upwork’s platform, and all transactions have to be reported.
Please check to make sure you have entered all of your tax information correctly. If it is correct but you just recently entered it, it may take some time for your account to reflect the information as our tax team validates the information you have provided.
The time it takes to validate tax information depends on several factors. Please allow up to one week processing time after submission.
We will notify you by email and banner notification when your SERR tax form is ready to view and download. You can also check by navigating directly to your account's Tax forms.
We are required to report information for SERR semiannually, in January and July. Transactions from July 1 to December 31 must be submitted in January of the following year, and transactions from January 1 to June 30 must be reported in July of that year.
You’ll need to make sure that your tax address is up to date and that you have completed a W-8BEN, W-8BEN-E, or W-9 with a valid Tax Identification Number (TIN). You can make updates on your account's Tax information page.
You can find your SERR report in your Tax forms when it is ready.
For future reference, you can find the link to your tax forms in the drop-down menu of the main navigation bar under Manage Finances.
SERR contains financial information about your activities on Upwork, including your earnings, fees, taxes, transactions, and bank account information.
SERR impacts residents of Australia and its territories who earn revenue on Upwork. If your primary residence is not in Australia or its territories, SERR does not apply to you. If you move your primary residence into or out of Australia, you must update your tax information.
We cannot provide individual tax guidance. Please consult your country’s tax authority or your tax advisor with questions related to your specific situation.
You may be able to find information about your country’s TIN here. If you have questions about your number, you will need to consult a tax advisor in your country or contact your local tax authority.
We will report the tax information you provide, your earnings, and your bank information to the relevant Australian tax authorities.
