The ATO have deemed Uber to be taxi service under GST law, but not a taxi service under FBT laws. But can we really blame the ATO? Our tax laws written before smartphones were even invented. And so with the advent of rideshare we're suddenly left with an unfortunate contradiction that disadvantages Uber drivers. Only the Federal Government has the power to update our tax laws for the 21st century.
As an Uber Driver, your car is your most critical business asset, so it’s important to understand the tax implications before you buy a new car for Uber. In this article we'll explore all of the key tax issues around buying a car for Uber, including the Instant Asset Write-Off (did you know it comes with a nasty sting in the tail?), claiming GST, your different options for finance, buying new vs used, loans vs leases, the requirements for your invoice, and more.
The ATO's rules for GST on Uber income are more complex than you would first assume. It's not enough just to take your Uber earnings and calculate 10% GST. Instead you need to be aware of how GST applies to each separate component of your Uber income. Then there's the Uber service fees, of course you want to make sure you're claiming back all the GST you're entitled to. In this article I’ll explain exactly how the ATO calculates GST on your Uber Income.
This article is our Complete Guide to Tax for UberEats and Food Delivery Drivers and Riders. Learn about applying for an ABN, and whether or not you need to register for GST. Find out how to claim deductions on your car or bike, including the requirements for keeping a logbook. And understand what lodgments you need to make to the ATO as a food delivery driver.
This post is the ultimate guide for new Uber drivers. Learn how to get registered with the ATO, how to keep a logbook, what tax deductions you can claim to minimise tax, and how to lodge your BAS's and tax return to the ATO. Everything Uber & rideshare drivers need to know to get started managing their Uber taxes in seven simple steps.
How much do Uber drivers really make? If you're thinking about driving for Uber, this will be one of your most important questions. After Uber fees, taxes and car expenses, how much of your Uber fares will actually end up in your pocket? This blog post will help give you an understanding of the different factors that might affect your Uber earnings, how much will go to the tax-man, and how much you'll actually get to take home.
No-one likes to pay tax, so naturally we're all trying to maximise our tax deductions to minimise our tax bills. This article explains in detail all the deductions you can claim as an Uber driver. We'll look at the two different methods for claiming your car expenses, how to keep a logbook, and all the other potential rideshare and delivery tax deductions you may be able to claim.
Tax is an unavoidable part of being in business, but too often people find themselves in trouble with the ATO after tax bills accumulate. It's easy to find yourself continually playing catch-up, so a set routine for saving as you go is essential to avoid tax time panic. This article will help you stay on top of your tax obligations so you can head into tax time with the right amount of savings, and feel confident that you're properly prepared.
One of the first questions you may have as a new or prospective Uber driver, 'Do I have to pay GST?'. This is a tricky question. You've probably heard that for most Australian small businesses you don't need to register if you earn less than $75k. But there are different rules for taxi drivers, and these rules apply to rideshare drivers too. This article explains exactly why you need to register for GST as a rideshare driver.
This is perhaps the first question every prospective Uber driver asks, and confusion reigns. The fact is, Uber drivers must pay tax on their income, even if they only drive once in a while. This article will explain exactly how the tax law works and why you need to declare your income.