Tax Implications of Uber Driving
Overview
The prevalence of ride-sharing as a side-hustle makes this more relevant than ever!
The gig economy has become big business and many individuals have started their own ride-sharing business by driving for Uber or one of the various challengers that have entered the market (eg. Lyft, Didi, Shebah, GoCatch).
Whether it be a side-hustle or a primary business activity, it’s vitally important these drivers are provided with the right guidance to navigate the multitude of attendant tax implications.
The discussion will cover key elements to consider including:
• how is income treated?
• motor vehicle expenses
• other common deductions
• temporary full expensing/asset depreciation for ride sharing drivers
• the GST challenges of ride-sharing
• referrals and incentives
• employee or contractor?
• combining ride-sharing with other sharing economy income such as UberEats
• ATO compliance focus
The practical and solutions-oriented approach will include worked examples and planning tips as well as highlighting the pitfalls to avoid.
Learning Outcomes:
Attendees will gain an understanding of the key tax issues facing ride-sharing drivers.
Suited to:
Tax and accounting professionals who deal with ride sharing drivers. This session will also appeal to ride-sharing drivers themselves. The session will provide an introductory/intermediate overview of the key tax issues to be considered.
This On Demand includes:
- a recording of the webinar Event which can be viewed multiple times
- a PDF of the presenter’s PowerPoint
- a verbatim Transcript
- any supporting documentation
- a CPD Certificate after successful completion of the Knowledge Quiz
Course syllabus
3 lessons
- Video – Tax Implications of Uber DrivingVideo
- FeedbackSurvey
- Knowledge TestTest
Your presenter
Mark ChapmanH&R Block
is the author of Life and Taxes: A Look at Life Through Tax and has edited and updated the second, third, fourth and fifth editions of Australian Practical Tax Examples, published between 2019 and 2022 by Wolters Kluwer CCH Australia.
He has over 25 years’ experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
Since 2015, Mark has been Director of Tax Communications with H&R Block Australia. He writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.