ShareGrid cannot and does not offer Tax-related advice to any members. Please consult your tax consultant to determine tax treatment for your rental activities and retain all relevant documentation. This statement is provided for information purposes only and is not intended to constitute tax advice.
Owners are responsible for determining their applicable tax reporting requirements, and the taxes that should be included in a listing price, and for including taxes to be collected or obligations relating to applicable taxes in their listings.
Appropriate governmental agencies, departments or authorities (the “tax authority”) where owners are located may require taxes to be collected from owners and renters on the amount paid for the right to use of gear, and to be remitted to the respective tax authority. The laws in jurisdictions may vary, but these taxes may be required to be collected and remitted as a percentage of the actual listing price (before tax) set by owners, a set amount per day, or other variations. Owners are responsible for remitting to the relevant authority any taxes included or received by them. We recommend that owners contact their tax authority to determine the effective tax rate for renting out their gear.