EOFY

Skyring

Well-Known Member
Author
Seven months and one day as an Uber driver in Canberra. Must say it's been a great way to spend a bit of spare time and earn a bit of cash.

Over that time, I've brought in about $11 000 gross, with about half that retained after GST and expenses.

That's without income tax - which won't be a real lot, given my retired status - and depreciation, which is difficult to put a figure to.

I sold my 2009 Golf and bought a 2015 Golf Wagon, a nicer (and roomier) car. The Uberdrivering basically pays for the car and a bit more besides.

I've kept a spreadsheet detailing all financial aspects, which generates a heap of numbers:
Average hours per week: 13.9
Average hours per (working) day: 3.3
Avg km/day: 90.5
Avg km/hour: 27.4
Avg km/job: 16.75 (incl pickup km)
Avg $/km: $0.98
Avg $/day: $89.08
Avg $/hour: $27.00
Avg $/job: $16.50
Avg $/hour (net): $13.75

These are averages. Over time I've refined my work patterns, and I'm doing a little better than the figures above. I'm not hell-bent striving for every job, I ignore surges and incentives, I accept every job regardless of how far away it is, and I set my own hours and break when I want. The aim is to minimise stress and maximise comfort, rather than grab every cent going.

I'm enjoying the job.
 

Skyblue6

Active Member
Seven months and one day as an Uber driver in Canberra. Must say it's been a great way to spend a bit of spare time and earn a bit of cash.

Over that time, I've brought in about $11 000 gross, with about half that retained after GST and expenses.

That's without income tax - which won't be a real lot, given my retired status - and depreciation, which is difficult to put a figure to.

I sold my 2009 Golf and bought a 2015 Golf Wagon, a nicer (and roomier) car. The Uberdrivering basically pays for the car and a bit more besides.

I've kept a spreadsheet detailing all financial aspects, which generates a heap of numbers:
Average hours per week: 13.9
Average hours per (working) day: 3.3
Avg km/day: 90.5
Avg km/hour: 27.4
Avg km/job: 16.75 (incl pickup km)
Avg $/km: $0.98
Avg $/day: $89.08
Avg $/hour: $27.00
Avg $/job: $16.50
Avg $/hour (net): $13.75

These are averages. Over time I've refined my work patterns, and I'm doing a little better than the figures above. I'm not hell-bent striving for every job, I ignore surges and incentives, I accept every job regardless of how far away it is, and I set my own hours and break when I want. The aim is to minimise stress and maximise comfort, rather than grab every cent going.

I'm enjoying the job.
Long as you are enjoying yourself, thats awesome. You had a photo of your new golf here didn't you? How are the airport pick ups?
 

Skyring

Well-Known Member
Author
  • Thread Starter Thread Starter
  • #3
Enjoying the work, that's for sure. I guess I could make more money if I worked longer hours, and I don't quite get my choice of hours because I have to share the car.

The new Golf is working out well. The extra room takes away a lot of stress, about picking up a party with more than a couple of bags. The wagon will swallow them fine. The car goes very well, and has some extra features. It is a pleasure to drive, and that makes the job a pleasure as well.

The airport pickups still have a glitch in them, where the pickup time is shown as twenty minutes or longer. I immediately text, saying that I'll only be four minutes, but I guess passengers aren't warming to it as much as they could because of this. The pickup point is good, with the waiting lounge out of the weather, but passengers tend to be waiting on the loop road, rather than the carpark side, so if they aren't waiting for me, I have to get out and hunt them down.

But, as you will know, once I've found them, it's usually a good long ride.

Not a lot of facilities over at the yellow car park, but it's fun to watch the planes. What would be good would be if they extended the geofenced waiting area to include the servos and the Maccas.
 

Skyblue6

Active Member
Enjoying the work, that's for sure. I guess I could make more money if I worked longer hours, and I don't quite get my choice of hours because I have to share the car.

The new Golf is working out well. The extra room takes away a lot of stress, about picking up a party with more than a couple of bags. The wagon will swallow them fine. The car goes very well, and has some extra features. It is a pleasure to drive, and that makes the job a pleasure as well.

The airport pickups still have a glitch in them, where the pickup time is shown as twenty minutes or longer. I immediately text, saying that I'll only be four minutes, but I guess passengers aren't warming to it as much as they could because of this. The pickup point is good, with the waiting lounge out of the weather, but passengers tend to be waiting on the loop road, rather than the carpark side, so if they aren't waiting for me, I have to get out and hunt them down.

But, as you will know, once I've found them, it's usually a good long ride.

Not a lot of facilities over at the yellow car park, but it's fun to watch the planes. What would be good would be if they extended the geofenced waiting area to include the servos and the Maccas.
Car park yellow? That's the open air one next to vibe and Caltex. Do you mean over there in majura park
 

Skyblue6

Active Member
how busy would you say it is? Fare every 20, 40, 60 minutes ? You know which flights are the big ones as well yeah ?
 

Skyring

Well-Known Member
Author
  • Thread Starter Thread Starter
  • #6
Car park yellow? That's the open air one next to vibe and Caltex. Do you mean over there in majura park
Yep. It's basic. No bays marked, surface is mostly just very rough tarmac. It's the triangular area of land at the corner of the two runways, ner the metal roos.

It's slow waiting. I've never seen more than a handful of cars there, but it gets me a job an hour on average. About the same as the cabyard used to. The Qantas jets are the good ones for fares. Virgin passengers tend to get picked up by the rels who are hovering around the edges of the terminal or parjked where they shouldn't.
 

Driver Zero

Active Member
Well I haven't been on the forum over the winter months, or driving much during that time for that matter, but I thought I'd share my EOFY experience for anyone who cares to read it.

So anyway, I grossed about the same as our good fellow Skyring (I still don't know how to tag people in a post) in the 8 months of driving since launch.
That to my surprise, bumped me into the highest tax bracket, something I didn't consider before driving.
With my hard earned Uber-cash I blew 4 grand on a weeks holiday to Dubai which was great and a place I can highly recommend for the global travellers out there. Then I came back and submitted my tax return to H&R Block. That's when the news started to get worse.

I was presented with a $414 BAS bill for the APR-JUN period and a $3700 income tax bill.

To be fair, I have an outstanding HELP (student loan) debt and the ATO wants to claw it back from me in large chunks whenever I'm making some good coin. Without the outstanding debt it probably wouldn't have been quite as eye-watering a revelation, but it certainly changed my view on whether driving was worth it for me.

The only good news in retrospect, is that driving for Uber is/was a great way to make a few grand in a relatively short amount of time and that I have until the start of March next year to pay the tax back. So the question arises, do I keep driving to pay back the tax debt, or just cop it on the chin and write it down to experience?
 

Driver Zero

Active Member
More revelations regarding my EOFY experience. I also hadn't considered that by earning several thousand dollars, the ATO would designate me
liable for PAYG tax instalments in the following financial year. So this week I got a nastygram from our beloved tax department saying I have to pay tax up front to cover future earnings. First instalment of $754 due by the end of the month. Great!:eek:
 

Jack Malarkey

Well-Known Member
More revelations regarding my EOFY experience. I also hadn't considered that by earning several thousand dollars, the ATO would designate me
liable for PAYG tax instalments in the following financial year. So this week I got a nastygram from our beloved tax department saying I have to pay tax up front to cover future earnings. First instalment of $754 due by the end of the month. Great!:eek:
It's not really to cover future earnings but to cover current earnings. It's intended to be an approximation of the tax payable on the earnings already made in each quarter with reconciliation after year end.

Salary earners have tax taken from their salaries each time they receive a payment. The quarterly system for those with business or investment income seeks to ensure they too pay tax during the income year and not some time after it ends.
 
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Jack Malarkey

Well-Known Member
More revelations regarding my EOFY experience. I also hadn't considered that by earning several thousand dollars, the ATO would designate me
liable for PAYG tax instalments in the following financial year. So this week I got a nastygram from our beloved tax department saying I have to pay tax up front to cover future earnings. First instalment of $754 due by the end of the month. Great!:eek:
There may be an advantage in delaying lodging income tax returns for the 2015-16 income year until just before 31 October (the deadline) to delay when you are obliged to pay the first quarterly instalment.

For information about lodging tax returns, see
https://uberpeople.net/threads/due-date-for-income-tax-returns-looms.107124/.
 
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Driver Zero

Active Member
It's not really to cover future earnings but to cover current earnings. It's intended to be an approximation of the tax payable on the earnings already made in each quarter with reconciliation after year end.
It's totally to cover estimated future earnings because it's not retrospective. I have to pay it regardless of whether I don't Uber at all or do it every day.
 
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Jack Malarkey

Well-Known Member
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