There are two kinds of tax applicable to Uber drivers – income tax and GST. Income tax is the same as what applies to everyone who earns a regular income. GST, on the other hand, is specific to rideshare drivers.
In this post, the trusted accountants behind the Rideshare Tax app answer some of the questions you have about taxes for Uber drivers in Australia:
“Do I need to register for GST?”
Business customers in Australia ask for tax invoices for trips they take on corporate accounts. Therefore, your ABN is necessary for the generation of a tax invoice on your behalf. Uber has consequently updated its requirement, so driver-partners will have to provide their ABN and GST number to access the Uber app.
“I already have my ABN and registered for GST. How do I upload my details on my Uber account, then?”
There is a part in your Partner Dashboard where you’ll have to provide your details. Just log in with your ABN and confirm your GST registration, then click on the “invoice settings” tab. Scroll down to fill in the field where your ABN is supposed to go and confirm that you registered for GST.
Here’s the thing, though. Even if you do have an ABN, it doesn’t necessarily mean that you are already registered for GST. If you’re uncertain, you can check your records or use the ABN Lookup tool to ensure that you are registered.
“How do I apply for an ABN and register for GST?”
You can make the application online via the Australian Tax Office website. You can also choose to call ATO at 139 226 between 8:00 am and 6:00 pm. If you want to do it conveniently, you can do it on the Rideshare Tax app.
“I only deliver for UberEats. Do I still need to upload my ABN and GST registration information?”
If you are unsure whether or not you need to register for GST because of how you partner with Uber, it’s best to speak with either someone from the ATO or a taxation professional. However, you should note that if you are a delivery partner using the UberEATS app but do not provide ridesharing services, you should just register for GST if you earn more than $75,000 per year.
“What benefits can I expect from registering for GST?”
You can benefit from the provisions made specifically for those who have registered for GST. For one, you can claim GST on petrol, insurance, and car servicing. Other information about this can be found on the ATO’s website. You may also speak to a tax professional who can give you sound advice regarding your circumstances.
“I’ve already uploaded my ABN to Uber before. Do I need to do it again?”
Even if you have already uploaded your ABN to your partner profile before, this is a new process. This means you’ll have to re-upload your ABN to this partner account and confirm your registration with GST. Once completed, the Uber app will generate GST-compliant invoices for your riders on your behalf.
Because it’s still relatively new, sorting things like taxes can be confusing. It is recommended that you look for accountants for Uber drivers who can provide you with all the information you need to know and answer any questions you might have.
Using Rideshare Tax is like having an accountant for an Uber driver as it seamlessly manages your rideshare business for you. You just download it, enter your expenses any time you need to, lodge your BAS, and we’ll take care of the rest. We’ll even take care of your ABN and GST registration. Download the Rideshare Tax now and enjoy its benefits!