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  • Earning income from ride-sourcing?

    341_carkeys_a

    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:

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