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How Much Can I Make from Uber Driving: Average Expenses

By |April 21st, 2022|Categories: Uncategorized|

If you are thinking about starting a career as an Uber driver, it may be a wise move. Many people have benefitted from this lucrative career. But how much can you actually make working for Uber? In this article, we will break down the other expense categories from the charts in more detail. How Much Can I Make from Uber Driving: Average Expenses If you are wondering what kinds of expenses Uber drivers have, here is a list of the common expenses you will encounter should you choose this profession.  Uber’s Service Fees Uber takes around a 27.5% cut of [...]

A Guide to Bookkeeping for Self-Employed Taxi Drivers

By |April 11th, 2022|Categories: Tax|

When you're a self-employed taxi driver, it's important to stay on top of your finances. And a large part of that is attributed to your bookkeeping. But not everyone has the funds to hire a professional to balance their books. However, you can take charge of your own bookkeeping by at least knowing some of the basics. Have an Organised System for Keeping Records The most important aspect of bookkeeping is organisation. Organising all of your receipts, invoices, contracts, and other paperwork will not only make the process easier for you but will also make it easier for an auditor [...]

Becoming an Uber Driver in Australia_ Earning Potential You Should Know

By |April 6th, 2022|Categories: Uber|

Uber has revolutionized the taxi business, transforming both the riders and customer experiences in more ways than one. With that in mind, it's not a surprise to see an opportunity to earn a living as an Uber driver in Australia.  Uber profits from the commission it takes from the fares you earn. Uber takes an average commission of 25-30 per cent from what you earn, depending on the city you are working in. Uber pays for rider promotions and referral bonuses that have nothing to do with your work. Uber takes out fees for itself and also for the driver’s [...]

All You Need to Know About Uber Driver Tax Deductions in 2022

By |April 6th, 2022|Categories: Tax, Uber|

Uber drivers in Australia are like other employees, freelancers, and entrepreneurs: they must pay taxes. There isn’t a way to avoid this requirement, even when you’re self-employed. Most Uber drivers want to take advantage of the tax deductions available to hold on to as much of their earnings as possible. What Can an Uber Driver Claim on Taxes in Australia? There are two main deductions people can claim as an Uber driver in Australia: Business Expenses Self-Employment Expenses Let’s take a look at each of these, shall we? Business Expenses are those things that are directly related to your work [...]

All about the Uber Driver Tax Deductions for This 2022

By |March 21st, 2022|Categories: Tax, Uber|

As with anyone with a livelihood in Australia, an Uber driver must pay their taxes. In fact, independent contractors are required to keep track of their income and expenses related to their work in order to file their tax returns accurately. Since Uber is well-known for offering a large number of rides to drivers, they often have several deductions they can claim on their tax forms. One of the most common deductions for Uber drivers is the expense for tolls and gas and the cost of acquiring and maintaining a vehicle. Before the Australian Tax Office (ATO) had been informed [...]

Beginner’s Guide to Goods and Services Tax for Uber Drivers

By |March 16th, 2022|Categories: Tax, Uber|

With an increased demand for more Uber drivers, more individuals are interested in becoming either full-time or part-time drivers. Whether you’re an interested individual or a long-time driver, it’s essential to understand how taxation would be handled for you before submitting your application. As Uber is a popular medium for earning nest egg monies, it’s crucial that you know how the Australian Taxation Office operates with Uber and its drivers. To help you out, here's a brief guide on how taxes work for Uber drivers. How Does GST Work for Uber Drivers? If you do not drive for Uber for [...]

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