Bob28

Well-Known Member
Started researching how much will be profitable driving Uber full time 40 hours per week.
Research is based to comply with all ATO rules and regulation.


As Uber driver u need to have ABN num and be registered for GST.

Pros
Be u own boss choice of hours and days to work

Cons
Uber still illegal practice in Vic - fines ( Uber will pay??)
Put up with public nonsense
U have not control in terms of trade Uber any time can change their rules and tariffs
Passenger always are protected by Uber as their clients
You not covered for personal injury while u driving with passenger (no work cover)
If u have road accident u must have insurance which accepts Uber (higher cost)
Car repair assume covered by insurance if u at fault u need to pay excess and higher premium next year – also u have lost income for at least week for car repairs

If passenger vomit or damage u car Uber will charge their card so u will be compensated for u repair or cleaning but not for u loss of income.
You’re in constant danger and exposed mental and alcoholised or drug addicts passengers & road users


Now Talking real numbers

UberX Passenger fees
Base Fare $2.00 + Per Minute $0.32 + Per KM $1.00 Minimum Fare $6.00Cancellation Fee $10.00

After 25%Uber commission Driver net uber pay
Base Fare $1.50 + Per Minute $0.24 + Per KM $0.68 Minimum Fare $4.50Cancellation Fee $7.50

Diver gross pay After GST paid to ATO (pay/11= pay EX GST)
Base Fare $1.36 + Per Minute $0.22 + Per KM $0.68 Minimum Fare $4.09 Cancellation Fee $6.82

Optimistic assumption Uber driver will do on average two trips per hour Trips 15km + 15 min x 2 = 30km + 30 min + 2 base fare

Base Fare 2 * $1.36 + 30 * Per Minute $0.22 + 30 * Per KM $0.68 = $5.44 + $6.6 + $20.40 = $32.44 Per hour
Assumption driving $32.44 X 40 hours per week gross income before expenses = $1297.60

Driving for 47 weeks per year ( 4 weeks holiday + 7 days public holidays) no sick leave no long service leave

47 weeks X $1297.60 =Annual gross income $60,987.20

Based on purchasing new car 2016 Hyundai Accent Active sedan Auto MY16 $15490 drive away
Fuel consumption Urban 7.7L/100km Warranty 5 Yr unlimited km Regular service: 12 mth or 15000 km
$15490 – rego $771.60= $14718.40 / 11= GST $1343.672 to be refunded by ATO
Car cost ex GST= $13347.8


Fix overheads per year Total EX GST= $25216

Car Chattel mortgage Int rate %6.5 2 years no residue per year $7124
Cars rego: $771.60
Car comprehensive Uber Insurance RACV for 30 year old 5* star driver rating per year $950 Excess $600
Accounting fees per Year $1200
Income protection insurance $1040 for 75 % of your earnings for two year
Mobile annual fees $940
Petrol based driving per hour 30km with pay and 30km empty Total 60km per hour = 40H X 60km X 47 week= 112.800km per year Petrol 112800 km /100 x 7.7L=8685.6L per year Petrol pump price ex GST $1.30
Annual petrol cost 8685.6L X $1.30 = $11291.28 / 112800 km = Per Km $0.10
Car service and Maintenance every 15000km - 112800 km /15000= 7 X $300 per service = $2100
Tyres and pads disk after 70 000 km = $700

Gross driver profit

Annual gross income $60,987.20 minus Fix overheads per year $26117 = $3487o Gross before tax

CAR DEPRECATION = $13347.8
Power internet car cleaning water home office $1500

Gross profit - car depreciation +office exp = Tax income
$34870 - $14847= Taxable income $20023
The estimated tax on your taxable income is $346.5


Net banked income = $34870 - Tax $346 = $34523/52=663
Pay per week in bank = $663/40hour= $16.60 per hour net pay

This assumption is based driver works from 06.00am to 10.00am and 04.00pm to 08.00pm Mon to Friday no weekend work for 47 weeks per year and pay for 52 weeks regularly in bank $677
Car gets trade in on end of year this way you min your down time and min risk of unknown break downs also max u net pay due car depreciation other ways u be paying higher tax

by end of year you will have loan balance of $7200 payable so hopefully your car trade in will cover this reminder which is half of the cost of same model car
1Yr old Hyundai Accent sedan with 113000km on clock for $7200

Ex sample same Tax income second year with no car trade off will be $34271 payable Tax $3138
Net banked income = $35771 Gross before tax - Tax $3138 = $32633/52=$627
Pay per week in bank = $627/40hour= $15.68 per hour net pay
Car after 2 Years with over 220000km on clock is only good for scrap metal
So now you make judgment if u want to be full time uber driver
No Job sec no long service no super no sick pay no work cover

Compare with normal Job

FULL TIME

40 HOURS * Min wage hour rate $17.29 =$35 963 + SUPER $3416

TAX -$3375.00 Income after Tax $32588.00

Non tax deductible work expenses CAR EXPENSES Going to work and home
Depreciation + Service + petrol + Insurance + Rego per year-$ 4,620.00
Mobile -$ 30.00*12=-$ 360.00

Net pay after car expenses and Mob $27608, /52 =per week $ 530.90/40=per hour $13.27

Full time job income VS Uber Income
Net pay + Super= $31024 VS Uber $34870
Uber driver will more then min wage per year $3846
Uber Driver will not receive long service levee Sick leave
 
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LevelX

Well-Known Member
Uber still illegal practice in Vic - fines ( Uber will pay??)

Yes they will

Put up with public nonsense

Any customer facing role has this issue too

Base Fare 2 * $1.36 + 30 * Per Minute $0.22 + 30 * Per KM $0.68 = $5.44 + $6.6 + $20.40 = $32.44 Per hour

This assumption is based driver works from 06.00am to 10.00am and 04.00pm to 08.00pm Mon to Friday

WOAH..... Your rates are way off, try $20-25/hr if you're going to be working 40/hrs a week. $30+/hr rates are only cherry picking hours. Like Storm nights, Friday nights, Sat nights etc. Or airport runs. You'll be needing surge fares to push you into $30/hr range.

You also don't have a paying pax in the car for every minute of the day, like your calcs are showing.

Petrol based driving per hour 30km with pay and 30km empty Total 60km per hour

Also too high, try closer to 30kmh/avg, based on my records this is what I average per hour.

You haven't allowed for traffic lights, picking, dropping pax off. Waiting 5 mins for them to 'arrive' etc. So to average 60km/h, you'll need to be pushing 80-100kmh with a pax on board! when factoring in the items above.



Power internet car cleaning water home office $1500

Really, not required for a Uber driver. But yeah, write it off it you can.

Non tax deductible work expenses CAR EXPENSES Going to work and home
Depreciation + Service + petrol + Insurance + Rego per year-$ 4,620.00
Mobile -$ 30.00*12=-$ 360.00

What happened to the car payments you factored in for UberX driver? Do you magically own your car now?

Uber Driver will not receive long service levee

Either will most full time workers either, being they are on contracts or just won't stay with a company over 7 years to get long service entitlements.
 
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LevelX

Well-Known Member
You don't do Uber purely for the money.... thats for sure! You do it cause it works for you, at this point in time.
 

ScottieB

Active Member
The average Uber driver is not the sharpest tool in the shed, I'm more than happy with the amount I'm making after taxes and overheads.
 

Bob28

Well-Known Member
Yes they will



Any customer facing role has this issue too





WOAH..... Your rates are way off, try $20-25/hr if you're going to be working 40/hrs a week. $30+/hr rates are only cherry picking hours. Like Storm nights, Friday nights, Sat nights etc. Or airport runs. You'll be needing surge fares to push you into $30/hr range.

You also don't have a paying pax in the car for every minute of the day, like your calcs are showing.



Also too high, try closer to 30kmh/avg, based on my records this is what I average per hour.

You haven't allowed for traffic lights, picking, dropping pax off. Waiting 5 mins for them to 'arrive' etc. So to average 60km/h, you'll need to be pushing 80-100kmh with a pax on board! when factoring in the items above.





Really, not required for a Uber driver. But yeah, write it off it you can.



What happened to the car payments you factored in for UberX driver? Do you magically own your car now?



Either will most full time workers either, being they are on contracts or just won't stay with a company over 7 years to get long service entitlements.
THIS IS FOR PEOPLE DRIVING FULL TIME AND DOING AS BUSINESS
THIS VERY OPTIMISTIC ASSUMPTION ANY WORST THEN THIS U BE WORKING FOR CHARITY
YOU DON T HAVE SICK PAY ALSO
CAR AFTER ONE YEAR WILL BE TRADE IN SO HOPEFULLY U TRADE IN WILL COVER REMINDER AND U GET NEW CAR TO MINIMIZE DOWN TIME AND UNPREDICTABLE COSTLY BRAKE DOWN
BESIDE USING CAR FOR UBER THIS WILL BE U PRIVET VEHICLE
YES U DON T PAY TAX EVERY MIN BUT EVERY 3 MOUNTS THIS WILL HAPPEN ALSO ALL U EXPENSES ARE EX GST SO ALL FACTORED IN

30km with pax and 30 km empty so if u take pax in quite loc u to come back where the action is so may be off by 10 to 20km but this assumption only
 
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Drivineast

New Member
Quite simple really - if it doesn't work for you don't do it.

Works for me - don't need the money to survive and can pick it up or put it down when I want.
 

Bob28

Well-Known Member
Quite simple really - if it doesn't work for you don't do it.

Works for me - don't need the money to survive and can pick it up or put it down when I want.
This not applying if u drive part time this based driving full time for UBER
 

Graham J

Well-Known Member
This not applying if u drive part time this based driving full time for UBER

I had some troubles with the maths Bob28 but your main point is correct. If you do this caper part-time, already own or lease your vehicle for other reasons and you enjoy the job then Uber is good. Accept Ubers lies and tricks for what they are and just head out and earn some good pocket money and look after yourself. However I really do feel for the people who hope to make a decent wage out of doing Uber full-time because that is an illusion, an impossible dream and you have to work an awful lot of hours to make a minimum salary. After fuel and Uber fees (20%) I average around $18/hr and about $0.53/km. They are relatively low rates but they match the times that I want to work. My average speed for an Uber shift remains constantly between 30 and 32 km/hr which is almost identical to what LevelX manages
 

LevelX

Well-Known Member
Bob28, please stop yelling, my eyesight works fine thank you. No need for caps lock.

Also as some who DRIVES rather than a arm chair uber driver, I think I might have a better understanding of whats 'true' and whats not out there.

30km with pax and 30 km empty so if u take pax in quite loc u to come back where the action is so may be off by 10 to 20km but this assumption only

What are you on about bob? You think you'll be getting fares of 30km distance, every hour!? no chance, long fares are not the normal, unless its a airport run, or a run from the outer burbs into the city.

The average Uber driver is not the sharpest tool in the shed, I'm more than happy with the amount I'm making after taxes and overheads.

I would be too.... you seem to make lots more per hour than others are reporting on here. Good for you!!! Bad for us! :frown: Let us know your secrets, we won't tell :wink:

My average speed for an Uber shift remains constantly between 30 and 32 km/hr which is almost identical to what LevelX manages

+1

So even if all those kms I did was 'billable', my MAX earning would be 30km x $1 = $30, plus 60 mins x $0.32 = $19.20 for a grand total of $49.20. Lets call it $50/hr - minus uber cut - minus gst - running costs :frown:

But its never like that!
 

joffie

Well-Known Member
I cant wait to see my tax bill from my earnings.
It will decide whether I still want to drive. I do enjoy it and the surges but not the rate cuts.
Eats is interesting though its OK. Wonder if they will cut the rates once they suck the drivers into it.
 

Bob28

Well-Known Member
Bob28, please stop yelling, my eyesight works fine thank you. No need for caps lock.

Also as some who DRIVES rather than a arm chair uber driver, I think I might have a better understanding of whats 'true' and whats not out there.



What are you on about bob? You think you'll be getting fares of 30km distance, every hour!? no chance, long fares are not the normal, unless its a airport run, or a run from the outer burbs into the city.



I would be too.... you seem to make lots more per hour than others are reporting on here. Good for you!!! Bad for us! :frown: Let us know your secrets, we won't tell :wink:



+1

So even if all those kms I did was 'billable', my MAX earning would be 30km x $1 = $30, plus 60 mins x $0.32 = $19.20 for a grand total of $49.20. Lets call it $50/hr - minus uber cut - minus gst - running costs :frown:

But its never like that!
This what is left for u
Diver gross pay After Uber Fees & GST paid to ATO (pay/11= pay EX GST)
Base Fare $1.36 + Per Minute $0.22 + Per KM $0.68 Minimum Fare $4.09 Cancellation Fee $6.82
Then u need to factor in u petrol depreciation and other expenses
So u max rate will be 1.36+30km*0.68 +30*0.22=1.36+20.4+6.6=28.36 Minus petrol minus service cost minus car depreciation
 

LevelX

Well-Known Member
This what is left for u
Diver gross pay After Uber Fees & GST paid to ATO (pay/11= pay EX GST)
Base Fare $1.36 + Per Minute $0.22 + Per KM $0.68 Minimum Fare $4.09 Cancellation Fee $6.82
Then u need to factor in u petrol depreciation and other expenses
So u max rate will be 1.36+30km*0.68 +30*0.22=1.36+20.4+6.6=28.36 Minus petrol minus service cost minus car depreciation

Yes I'm aware, I drive remember...... maybe bad wording, when I said MAX rate, I meant what will be 'charged' to the pax.

Once again, 30km job isn't the normal. Heres one I did tonight..... At least it was a surge job :wink:

Second thoughts, removing screenshot.....

Trip was approx 45mins and travelled approx 8.5kms

So whats that.... 12/kmh average speed......
 
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Deedub

Active Member
Hey Bob

I think your maths is wrong and instead of wasting your time talking shit, go clean your smelly @@@@ing taxi so people actually want to ride with you.
Deadshit
 

Bob28

Well-Known Member
Hey Bob

I think your maths is wrong and instead of wasting your time talking shit, go clean your smelly &%[email protected]!*ing taxi so people actually want to ride with you.
Deadshit
Hey deedub if u think is ok for u keep driving for peanuts
I have made my decision no surge no driving for charity all my fix cost are real
Only thing is over optimistic is 30 km per hour with pay which is hard to achieve
Conclusion if u want decent wage and decent hours not sutibole for that tape of driver
 

mitc

Member
great break down assuming your getting a full run, but in fact you dont get a full run so out of those hrs you'll be lucky to get 3-5 trips :biggrin: so yer in math u might but real time you dont come close to those numbers
 

Graham J

Well-Known Member
Based on my driving pattern over a long period the average is 1.77 trips/hr. Saturday evenings is average of 2.12 trips/hr. If I lived closer to the city could do a bit better but not much as I rarely sit around for long between jobs
 

LevelX

Well-Known Member
Based on my driving pattern over a long period the average is 1.77 trips/hr. Saturday evenings is average of 2.12 trips/hr. If I lived closer to the city could do a bit better but not much as I rarely sit around for long between jobs

I would agree with Grahams figures. Even in the burbs, I rarely have long waits between jobs. The thing is, the burb jobs are normally longer trips than the city jobs, so it all balances out in the end.

great break down assuming your getting a full run, but in fact you dont get a full run so out of those hrs you'll be lucky to get 3-5 trips :biggrin: so yer in math u might but real time you dont come close to those numbers

Math is fine, the figures/assumptions are incorrect.
 
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