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ATO: Earning income from ride-sourcing?

Jack Malarkey

Well-Known Member
From the Australian Taxation Office’s Small Business Newsroom:

Earning income from ride-sourcing?

3 July 2019

Did you know, income earned from providing ride-sourcing services is assessable and must be included in your tax return?

Whether you use a registered tax agent or prepare your own return, here are some tips to help get it right this tax time:

Report your income including fares, tips or bonuses (such as the Uber 'driver appreciation reward' payment) as business income in your tax return.

If ride-sourcing is your main source of business income, enter 'Taxi service operation' as your main business or professional activity.

Only claim deductions for expenses that directly relate to providing ride-sourcing services.

Keep records of all your expenses and income (you can use the myDeductions tool in the ATO app).

Ride-sourcing is also subject to GST, so you must have an ABN and be registered for GST.

Find out about:

Ride-sourcing: https://www.ato.gov.au/General/The-sharing-economy-and-tax/Ride-sourcing/

Uber 'driver appreciation reward' payments: https://www.ato.gov.au/General/The-sharing-economy-and-tax/In-detail/Uber--driver-appreciation-reward--payments/.


(https://www.ato.gov.au/Newsroom/smallbusiness/Lodging-and-paying/Earning-income-from-ride-sourcing-/)
 

Jack Malarkey

Well-Known Member
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