20 04, 2020

$20,000 Early Access to Superannuation for Rideshare Drivers

By |2020-04-25T20:44:27+10:00April 20th, 2020|Categories: BAS, COVID-19, Didi, Food Delivery, GST, Logbook, Ola, Shebah, Tax, Uber|Tags: , , , , , , , , |2 Comments

Disclaimer This is not financial advice. You should consider seeking independent financial advice before considering access to your superannuation fund.  What is it? Some rideshare drivers may have funds available in their superannuation account which they may now be able to access. Normally, you would have to wait until you're 65 years of age before you could access your superannuation. Due to the impacts of the Coronavirus, the Government is allowing individuals access of up to $10,000 of superannuation in 2019-20 and a further $10,000 in 2020-21. That is a total of $20,000 over the two financial years. People accessing [...]

28 03, 2020

Income Support for Uber, Rideshare and Food Delivery Drivers. 

By |2020-06-04T11:56:40+10:00March 28th, 2020|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |18 Comments

In response to COVID-19, the Government has announced a variety of Coronavirus Stimulus packages and we're here to discuss how they apply to rideshare and food delivery drivers. Whether you driver for  Uber, Didi, Ola, Shebah or UberEats, drivers have a few payment options to choose from, such as the Jobkeeper and the Jobseeker payment options.  However, you can only claim one or the other.  Option 1: Jobkeeper  Disclaimer The legislation has passed in Government. We're continuously seeking further clarity in relation to how this applies to the rideshare industry. As this information becomes available, we will update this post.  [...]

10 02, 2020

Rideshare Fact Sheet in other languages

By |2020-04-25T20:17:38+10:00February 10th, 2020|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |1 Comment

Is English your second language? The ATO has made it even easier for you to understand your tax obligations.  You can read a guide prepared by the ATO, on Ride-sourcing – the basics, in the following languages: Arabic Chinese Dari Hindi Korean Punjabi Vietnamese ‘What you need to know about your tax obligations" You can request a copy of "What you need to know about your tax obligations" to be mailed to you directly from ATO. Click here to order your copy now   Do you have any questions? Leave a comment below and the Rideshare Tax will respond. Drive [...]

10 02, 2020

Tax deductions for Uber, Didi, Ola & Shebah drivers

By |2020-04-25T20:11:23+10:00February 10th, 2020|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |2 Comments

The most frequently asked question by every rideshare driver is "what can I claim in my tax return as a rideshare Uber driver?"  We've prepared a full list of what you can claim as a Uber driver in your tax return. You'll need to keep evidence of all your expenses in case you are audited by the ATO.  You can store copies of your receipts and statements in the Rideshare Tax app. If you paid using a card, the expense can be substantiated using a business bank account up to the amount of $82.50 including GST. Here is a full [...]

17 07, 2019

Who is Rideshare Tax?

By |2020-04-25T20:12:29+10:00July 17th, 2019|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |4 Comments

We’re often asked the same questions from our users and the public. Here’s a bit about us and why we’re different… Who is Rideshare Tax?  We’re a group of Melbourne-based CPA Accountants and Registered Tax Agents. Yes, we’re a highly qualified lot - and we love everything about Uber and Rideshare. We’re based in Melbourne but we serve drivers all around Australia. What makes us an expert in tax for Uber and rideshare drivers? Well, for starters: We’re CPA accountants and registered tax agents. Our years of work and our in-depth experience mean that we know just how to reduce [...]

15 07, 2019

ABN & GST for UberEats and Food Delivery Drivers

By |2020-04-25T20:37:02+10:00July 15th, 2019|Categories: BAS, Food Delivery, GST, Logbook, Tax|Tags: , , , , , , |8 Comments

The biggest questions among UberEats and Food Delivery Drivers are:  Do I need an ABN? Do I need to be registered for GST? Rideshare Tax can answer these for you. It depends on what you do. To make it simple for you, we’ve set up two categories. All you do is pick your category – A or B – then look up the information in your category. Category A - You ONLY deliver for UberEats or other food delivery company.  You need an ABN. You do not need to register for GST if your total income is under $75,000. (Total [...]

15 07, 2019

6 simple steps for rideshare drivers to be tax ready.

By |2020-04-25T20:40:16+10:00July 15th, 2019|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |0 Comments

Don’t get overwhelmed by your tax requirements! Rideshare Tax is here to help you. We will help you complete these 6 simple steps to stay on top of your tax obligations. Step 1. Apply for an ABN and register for GST As a member of Rideshare Tax, we will get you registered for your ABN and GST, free of charge. That certainly takes the hassle out of this step! The ATO requires all rideshare drivers to have an ABN and be registered for GST from the first dollar they earn. This applies even if you only drive occasionally. Normally an [...]

23 01, 2019

Keeping a logbook for your ridesharing business.

By |2020-04-23T13:53:16+10:00January 23rd, 2019|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |2 Comments

Your car is potentially the most significant deduction in your Uber and ridesharing business and your vehicle logbook is crucial for your deduction. Rideshare Tax explains. Why do you need a logbook? Since you may use your car for both work and personal trips, you must keep a vehicle logbook to track all of your Uber and ridesharing business use. Your logbook tells us the proportion of your total car use that’s for your ridesharing business, so we can correctly calculate the amount of car-related expenses we can deduct - for both your Uber GST and Uber tax returns. What [...]

16 01, 2019

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

By |2020-04-25T20:23:58+10:00January 16th, 2019|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |1 Comment

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 [...]