Ride-sourcing this summer? This may be of interest to you if you are planning on providing ride-sourcing services.

You will need to get an Australian business number (ABN) and register for GST.

When applying for an ABN, be sure to:

  • type ‘taxi ride sourcing’ as the business description
  • select ‘taxi driver (except owner/operator)’ or ‘taxi cab service’.

You will also need to:

  • pay GST on the full fare
  • lodge business activity statements
  • include what you earn in your tax return
  • keep accurate records to claim deductions for business expenses.

https://www.ato.gov.au/Tax-professionals/Newsroom/Income-tax/Ride-sourcing-this-summer-/

Please give us a call if you would like to discuss.

Sincerely,
The Team at VJC