Category Archives for "Rideshare Expenses"

I’m from the government. I’m here to make things even harder and more expensive.

Coffee in the Car

Are You a Good Driver?

Most rideshare drivers are.

You are more mature than the average, you've been driving longer and you are aware that your income is proportional to your driving ability. As well as your passengers' well-being and safety.

Do You Enjoy a Takeaway Coffee?

Takeaway Coffee

Well, you're gonna have to be careful.

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I’m No Longer Driving for Uber. Here’s Why:

1. It's Very Expensive

Uber Driver Major Expenses

I found this out when a number of things happened at once.

First, I had a major repair expense, enough to wipe out all my Uber income for the past 5 months!

The major component that failed caused my car to stop as it came off the motorway while delivering two passengers to the airport.

Fortunately, I was able to flag down another Uber driver on his way to the airport and he was able to add my passengers to his. So at least my passengers caught their flight.

Component Failure

Was Uber driving the cause of the failure?

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Uber and GST Revisited

Change from December 2017

From the 1st of December 2017, Google started invoicing its Australian drivers as an Australian entity.

Among other things, this means that Uber, just like the rest of us, is paying GST on its earnings.

What Does This Mean for Drivers?

This change has no effect on your net income as a driver.

You still have to pay GST on the total charged to your riders. Your invoice from Uber will be higher as it now has GST added, but this GST in turn reduces your GST payment obligation.

This means that your weekly Uber income will be reduced by the GST amount but you recover it by a lower GST amount paid to the ATO on your quarterly BAS.

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If You’re An Uber Driver You Need Rideshare Insurance

I farewelled my old insurance company today.

It was sad, really. I'd been with them forever and they'd always been terrific to deal with.

But my renewal was coming up in a couple of weeks and I'd decided it wasn't smart not to have a policy that covered me while I was working as an Uber driver as well as driving privately. The Uber TOS are far too vague to rely on and in any case don't cover you while you're waiting for or on your way to a ride.

So I phoned my (very well known) insurance company.

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New CTP Requirements for Uber Drivers in Qld

Uber Drivers Must Update Their CTP to Class 26

Helping Uber Drivers

Legislation passed by the "we must be seen to be doing something about Uber" Queensland Government means that Uber drivers must upgrade their CTP insurance cover to Class 26 (Booked Hire).

Every driver in Queensland must have CTP insurance. You will have paid the CTP premium with your car registration renewal, but can choose your own insurer from a limited selection.

For example, I'm with RACQ insurance, and the yearly premium of around $350 is added to my registration fee.

Uber Drivers and CTP: When Does This Happen?

You may hear a date of 1 January 2018 being bandied about. Don't be misled.

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Uber Drivers: Submit Your BAS the Easy Way

Step 1 - Create a MyGov Account

Uber Driver: MyGov Home Page

MyGov is the Australian Government's portal into all government-related services, such as Centrelink and the Australian Tax Office.

If you don't have a MyGov account, you need to create one, as it makes submitting your BAS and paying your GST simple and easy.

Go to my.gov.au and follow the steps to create an account and link it to your tax details.

If you're unsure of the steps required here, send me a comment below and I'll go through it in detail.

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Uber Drivers in Qld: New Signage Requirements

New Uber Signage

New Uber Sticker for Uber Drivers in Qld

From 30 October 2017, Uber drivers in Queensland MUST display the new Uber stickers in their vehicles while driving or waiting for Uber riders (in other words, whenever the Uber driver app is on).

Unlike the previous sticker, which displayed the Uber symbol on the rear windscreen, the new stickers clearly show the word "UBER" in upper case.

There are two stickers, exactly the same. One must be affixed to the front passenger side windscreen and the other to the rear passenger side windscreen.

So that if you are looking at your car from the back, both stickers are on the left hand side.

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Uber and GST

Important Update

From 1/12/2017, Uber started invoicing as an Australian entity, paying GST to the ATO.

Although this has no effect on your net income for the quarter, it does reduce your weekly income by the GST amount and then give it back to you by a reduced amount owed on your quarterly BAS.

See the post Uber and GST Revisited for full details.

Uber and GST

Although we have covered the paying of GST by Uber drivers in Australia, along with other tax issues in previous posts (see Do Uber Drivers Have to Pay GST? and How Do Taxes Work for Rideshare Drivers?) some drivers are still unsure.

So this post is a simple list of GST considerations for Australian Uber drivers.

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How Do Taxes Work for Rideshare Drivers?

Important Update

From 1/12/2017, Uber started invoicing as an Australian entity, paying GST to the ATO.

Although this has no effect on your net income for the quarter, it does reduce your weekly income by the GST amount and then give it back to you by a reduced amount owed on your quarterly BAS.

See the post Uber and GST Revisited for full details.

Tax obligations for Uber drivers.

GST and Income Tax for Uber Drivers

Uber drivers have to be concerned with both GST and income tax. It's vitally important to get both absolutely correct. Otherwise, you could be in for a nasty surprise further down the track.

GST

Everyone understands GST. It's 10% of your earnings, right?

No, wrong. For an Uber driver, there are 2 very important considerations. You must get them right and you must be able to provide the necessary documentation if you're ever audited by the Australian Tax Office.

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