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Breaking Down the Tax Deductions for Uber Drivers in Australia

Taking off on the road as a professional rideshare driver—be it under Uber, Didi, Ola, Taxis, and more—isn’t as straightforward of a path as it seems. Part of the bumps ahead includes managing your tax obligations every year since, as a rideshare driver, you’re considered as an independent contractor who needs a proactive approach to your taxes. 

While you have to take charge of reporting income and expenses in your tax return, along with the registration for Goods and Services Tax (GST), there is one silver lining that can make your experience behind the wheel better: there […]

By |2021-09-28T04:26:03+10:00September 28th, 2021|Categories: Tax|0 Comments
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$1,500 NSW Rebate on Government fees for Uber, Rideshare and Food Delivery Drivers.

Did you know you may be eligible for a rebate on your NSW car registration and drivers licence fees?

The NSW Government is offering a rebate of up to $1,500 for small businesses (including non-employing sole traders such as rideshare drivers) to claim for NSW and local government fees and charges such as:

  • Vehicle Registration Fee – (Business use fee only)
  • Issue or renewal of a driver licence.

Please see the the full list here of what you can claim:  https://www.service.nsw.gov.au/system/files/2021-08/eligible-fees-and-charges-small-business-fees-and-charges-rebate.pdf#page6

Here’s how it works:

  1. Apply for the rebate on MyServiceNSW
  2. Follow the steps to apply.  Attach supporting documentation as required.
  3. If […]
By |2021-08-20T15:20:45+10:00August 20th, 2021|Categories: BAS, COVID-19, GST, Tax|Tags: , , , , |0 Comments
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NSW Income Support for Uber, Rideshare and Food Delivery Drivers. 

The NSW Government is offering financial support to businesses, including rideshare and food delivery drivers who have been impacted by the recent COVID-19 restrictions. Determining your eligibility is mainly based on your annual turnover.

Your annual turnover is above $75,000, you may be entitled to:

If your annual turnover is between $30,000 and $75,000, you may be entitled to:

If you don’t meet the eligibility for the above grants then you may be eligible for:

 

COVID-19 Business Grant

The information below is from the Services NSW website:

If […]

By |2021-07-27T10:13:40+10:00July 25th, 2021|Categories: BAS, GST, Tax|Tags: , , , , |0 Comments
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How to keep track of expenses for Uber

With the rise of rideshare apps like Uber, DiDi, OLA and Shebah comes a rise in newly registered drivers. The ATO requires you to have an ABN and operate as a sole trader. Keeping track of your Uber expenses is the most important aspect of running a business as it dictates your profit margin. As they say, it costs money to make money. Here are ways to maximise your tax returns by keeping clean records and to keep the ATO off your back!

What records do I need to keep?

The ATO requires […]

By |2021-06-20T16:26:57+10:00January 5th, 2021|Categories: BAS, COVID-19, Didi, Food Delivery, Logbook, Ola, Shebah, Tax, Uber|Tags: , , , , , , , , |0 Comments
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$20,000 Early Access to Superannuation for Rideshare Drivers

Disclaimer

This is not financial advice. You should seek independent financial advice before making changes to your superannuation fund. 

The Changes.

Due to the impacts of Coronavirus, rideshare drivers now have access to 20,000 dollars from their superannuation account. Normally, you would have to wait until you’re 65 before accessing your superannuation. You do not need to pay tax on the amounts released, nor will it have any effect on Centrelink or Veteran’s Affairs entitlements.

Eligibility.

You must satisfy any one or more […]

By |2021-06-20T16:28:10+10:00April 20th, 2020|Categories: BAS, COVID-19, Didi, Food Delivery, GST, Logbook, Ola, Shebah, Tax, Uber|Tags: , , , , , , , , |2 Comments
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Income Support for Uber, Rideshare and Food Delivery Drivers. 

Grants Available for NSW

For more information on the grants available for the rideshare drivers in NSW, please see the our latest blog NSW Income Support for Uber, Rideshare and Food Delivery Drivers  for detailed information.

Grants Available for VIC

Business Costs Assistance Program Round Two – Top-Up

If you’ve previously received the Business Costs Assistance Program Round Two grant relating to the  May-June 2021 lockdown, you will receive the Victorian Governments $2,000 top-up into your account in July.

Eligibility

To be eligible for the July 2021 Top-Up Payment, you must have successfully applied for the Business Costs Assistance Program Round […]

By |2021-07-30T17:49:39+10:00March 28th, 2020|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |19 Comments
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Rideshare Fact Sheet in other languages

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 more. Worry less.

 

By |2021-06-20T16:30:06+10:00February 10th, 2020|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |1 Comment
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Tax deductions for Uber, Didi, Ola & Shebah drivers

The most frequently asked question by every rideshare driver is “what can I claim in my tax return?” 

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 list of what you can claim:

Expenses claimable […]

By |2021-06-20T16:31:10+10:00February 10th, 2020|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |2 Comments
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Who is Rideshare Tax?

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. Highly qualified – we specialise in rideshare. Based in Melbourne, we serve drivers nationwide.

What makes us an expert in tax for Uber and rideshare drivers?

Well, for starters:

  • A team of CPA accountants and registered tax agents, our years of work and our in-depth experience mean that we know just how to reduce your tax
  • One of our founders, who is a CPA accountant, has driven for Uber, Didi and Ola.
  • We have looked at every possible deduction for […]
By |2020-12-08T16:25:34+11:00July 17th, 2019|Categories: BAS, GST, Logbook, Tax|Tags: , , , , |4 Comments
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