1 June 2017

 

ATO Data Matching Programs – a warning for UBER drivers

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Managing your own UBER business can be an excellent source of extra income and can provide a number of lifestyle benefits, but to continue doing this, you must ensure your tax obligations to the ATO are diligently followed.

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ATO Tax Rules for UBER Drivers

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The ATO will be implementing a Ride Sourcing data matching program which has been developed to identify the registration, lodgement and reporting of individuals offering ride sourcing services (e.g. UBER Drivers).

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The ATO will request details of all payments made to ride sourcing providers from accounts held by a ride sourcing facilitator’s financial institution for the 2016/2017 and 2017/2018 financial years. This information will be used to match the data provided against their records. This will identify ride sourcing drivers who may not be meeting their registration, reporting, lodgement and/or payment obligations.

 

What does this mean for an UBER driver?

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It means that if you are an UBER driver, it will be difficult to ‘hide’ your income from the ATO.

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UBER tax obligations

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You can use 5 simple steps to ensure you are meeting your tax obligations as an UBER Driver:

1. Get an ABN

2. Register for GST

3. Keep a vehicle logbook

4. Lodge quarterly Business Activity Statements (BAS)

5. Lodge a yearly tax return

 

Platinum Accounting Brisbane offers discounted rates for tax advice, BAS and Tax Return preparation and lodgements for UBER Drivers.

 

Contact us to receive more information on our special offer.

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Play our video below to see what Lucy needs to do as a new UBER driver: