Ride-sourcing and Tax
Do you provide ride-sourcing services for a fare; working through a facilitator such as Uber, SheSafe, Shebah or GoCatch? Do you know how income tax, the goods and services tax (GST) applies to your earnings? Ride-sourcing is taxi-travel for GST purposes. If you have a ride-sourcing enterprise, you need:
• an Australian business number (ABN)
• to register for GST from the day you start
• to pay GST on the full amount of every fare
• to keep records of income and expenses for both GST and income tax purposes.
You can then claim GST credits for expenses associated with your ride-sourcing enterprise. Note: If you already have a business structure, this session is designed for sole traders. Presented in partnership with the Australian Taxation Office.