23 01, 2019

Keeping a vehicle logbook for your ridesharing business.

By |2019-01-23T12:13:38+00:00January 23rd, 2019|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |0 Comments

Your car is an important, and potentially the most significant, deduction in your Uber and ridesharing business. Rideshare Tax will help you get this right as there is a bit of information to understand. Why do you need a logbook? Since your car may be used for both work and personal purposes, you must maintain a logbook to keep track of the Uber and ridesharing business use of your vehicle. Your logbook will tell us the proportion that your car is used for your ridesharing business, and then we can correctly calculate the deductible amount of car-related expenses for both [...]

16 01, 2019

Have you got what it takes? Tax savings, that is.

By |2019-01-17T10:36:25+00:00January 16th, 2019|Categories: Tax|Tags: , , , , |0 Comments

The Australian Tax Office (ATO) waits for no man. So when tax time comes around, you want your ridesharing business tax money sitting safely in the bank, ready to jump into action when the tax office snaps its fingers. Keep it safe. Keep it separate. Before you can stash away your Uber driver business tax dollars, you need a place to put them. Make sure that you open a separate rideshare tax bank account—as soon as you read this—if you haven’t already done it. Whatever you do, don’t keep your Uber driver tax money in with your general ridesharing business [...]