UBER Tax 2019 – A Complete Guide
|Uber Tax 2019 all you need to know!|
Happy driving Uber for the 2018 / 2019 financial year. It’s time to get you update on the key information to lodge your tax return for the year. I will take you step by step so that you can get most accurate knowledge when lodging the Uber tax return. Please note: By Uber I mean all ride sharing companies such as Didi, Ola, Taxify and Taxi services.
Key Points covered in the Blog
a) What is the due date to lodge Uber tax return for the year 2018/2019. Tax Return 2018-2019, due date 31/10/2019 If you are with a tax agent your tax return due date will be 15/05/2019 If you have any previous tax return outstanding, your due date will be 31/10/2019 regardless if you are with the tax agent or not.b) I have not driven Uber for the whole financial year, do I still require to lodge the tax return
Yes, You are required by Law to lodge tax return even if you have not made any income.
c) What are the Income tax threshold for the year 2018/2019
Resident tax rates 2019–20
Tax on this income
0 – $18,200 Nil
$18,201 – $37,000 19c for each $1 over $18,200
$37,001 – $90,000 $3,572 plus 32.5c for each $1 over $37,000
$90,001 – $180,000 $20,797 plus 37c for each $1 over $90,000
$180,001 and over $54,097 plus 45c for each $1 over $180,000
The above rates do not include the Medicare levy of 2%
d) I have other Income with Uber such as salary, rental or other business income. How will I be taxed on my income.
You will be taxed on your total income at marginal tax return. For example
If you have earned $50000 from salary and $10000 from Uber you will be taxed on your total income that is $60000. Tax on $60000 is $12147. If your emloyer has paid tax on $50000, which is for example, 9500, you will pay the remaining $2647 (this is just an example)
e) I have only driven Uber eats of menulog for the year do I still have to pay tax.
Yes, you will be required to pay tax on your Uber Eats Income as well. If you are only driving Uber eats you don’t have to pay Gst (goods and services tax) however you are still be required to pay tax even if you are only driving uber eats.
f) What is difference between Gst and Tax return.
Gst and Tax are two seprate things. Gst is an indirect tax, if you registered for gst you will be required to collect gst and pass it to the government. That GST should never be confused with your profit, or your revenue, or your money and god forbid you should never spend the GST you have collected purely because it is sitting in your bank account.
Income tax is a direct tax tax that you pay each year based on the marginal tax rates (which can change especially with the latest budget announcements). Some people pay a small amount, some pay a large amount. It all depends on the level of taxable income – which varies for everyone.
g) Do I have to pay Gst on Uber eats or Menulog.
You are not required to pay GST on Menulog or Uber eats. However, if you are driving Uber X or Didi, Ola, Taxify with Uber Eats or Menulog you will be required to register for GST and thus pay GST on combined Income.
h) What tax deduction Can I claim as a Uber, Didi, Ola or Taxify driver
You can claim various tax deduction as an uber driver such as (Fuel, Insurance, Repair & Maintenance, Cleaning, Tolls, Mobile Phone, Customer Entertainment and Depreciation Expense)
i) How can I lodge Uber Tax Return
You can simply click on the link below to start your tax return. Just fillup the simple form with your personal details and we will prepare the tax return for you. All tax return will be prepared by Uber Tax Specialist Bilal Jivraj
ia) Who will prepare and lodge my tax return.
Your tax return will be prepared and lodged by Bilal Jivraj owner of Alitax Uber Tax Specialist in Australia.
j) What Information do you require to lodge Uber tax return
If you have lodged BAS online with you, most of your expenses will be automatically available with us. You will still be required to ensure you have kept a valid logbook for tax purposes and all the evidence of the expenses you have claimed when you lodged BAS with us online. Please do provide us the Uber and other ridesharing tax return for the year 2018/2019 to cross check Income.
If you have not lodged BAS with us you will be required to provide
1. Uber, Ola, Didi and Taxify Tax Summary ( You can download one from the facilitator website)
2. Expense Sheet (you can either email us your expense sheet or fill up online using our website)
3.) Car Purchase Agreement and Tax Invoice (to claim depreciation on the car)
4.) Logbook business percentage
k) I have other income with Uber such as rental property, salary or wages. Can I still prepare my tax return with Alitax.
Yes, we are speclialize in preparing tax returns for small businesses with all sorts of income. You will be required to provide us with the following information along with Uber Information stated above
1.) Payment Summary (you are only required if your employer has not lodged tax summary through mygov)
2.) Interest or dividends earned during the year.
3.) Property Agent Statement incase you own an investment property
4.) Details of Business Income and Expenditure
5.) Car Travel Logbook
Ka) I have previous overdue tax returns what should I do?
You will be required to lodge all overdue tax return as soon as possible to avoid penalties from the ATO. Please email us if you need any specific advice.
l) How much do you charge.
Our prices are as follows
1. Uber Tax Return starts from $150
2. Uber Eats Tax Return starts from $120
3.) Uber with other Income such as Salary and Wages $180
4.) We charge extra $50 for each rental property you have
You will be required to pay at least 50% upfront in order to get us started
m) Do I get any discount?
Yes, you can get upto $10 off if you pay the full amount upfront. You can also get $10 if you refer a friend.
How do I get started. You can start Uber Tax using the link below
Start Uber Tax Return