Tax Returns for Uber Drivers in Brisbane and Australia-wide
Do you need a qualified and skilled business accountant to do your Uber tax return in Brisbane?
We know that as an Uber driver you work as an independent contractor to Uber. You provide everything for your business. You are the driver and provide the car, pay for fuel, maintenance, insurance, internet connection for your phone and more.
GET YOUR MENTAL WELLNESS IN MOTION: PLANET FITNESS INVITES YOU TO EXERCISE AND RELAX FOR FREE ON WORLD MENTAL HEALTH DAY, OCTOBER 10 | PlanetFitness mastering db hang clean young woman doing fitness exercises in the gym
As you know, you need to pay tax from the income you earn while driving your Uber. The team at BBAS know about tax law, including all of the deductions you are eligible to claim. We know how to minimise your tax while keeping you compliant with the Australian Tax Office (ATO).
Good Record-Keeping = Affordable Uber Tax Returns
Uber tax returns can be difficult and complex to complete so it is essential that your record-keeping is good. The fees BBAS Accounting Services charges for lodging your Uber tax return are not expensive if good receipt and tax records are maintained.
As your car is essential to earning income, you can claim a large portion of your vehicle expenses. Completing a vehicle logbook, recording the amount you earn as well as keeping the receipts of what you spend is essential. Having these documents recorded logically and systematically streamlines the processing of your tax return and reporting requirements to the ATO, thus ensuring that you pay the right amount of tax.
Some of the deductions you can claim on your Uber Tax Return are:
- Interest if you are paying off your Uber car
- The charges and commission you are paying Uber
- Repairs on your Uber car
- Registration and insurance on your Uber car
- The licenses and fees you pay, even road toll charges
- Depreciation on your Uber car
The ATO has computer-matching software, which compares the information from your BAS (Business Activity Statement), your bank and Uber LLC to see if it matches the income on your tax return. Therefore, it is important that your record keeping is done correctly.
Starting An Under Driver Business
BBAS Business accounts are experienced in setting up all kinds of business structures and can provide you with advice that suits your personal needs. The most common structure for Uber drivers to operate under is as a Sole Trader. For your Uber driver business to lodge a tax return it needs to have an ABN (Australian Business Number) and be registered for GST (Goods and Services Tax). The team at BBAS can help with both an ABN and the GST registration.
Sole Trader Tax Return Experts
If you are looking for an Uber tax return accountant in Brisbane or around Australia that can help you with your Uber Driver tax return, then don’t hesitate to call the BBAS team. Let BBAS Accounting Services take the worry out of your Uber tax return and ATO reporting. Please contact us by completing our online form below or by calling (07) 3886 1652. We want to make the lodging of your annual return hassle-free.