Attention drivers for Ride Sourcing Enterprises:
Anyone driving for Ride Sourcing Enterprises such as Uber or Ola or any other company in this area should be aware that you must have an ABN and also be registered for GST (Good and Services Tax).
If you are new and are looking to enter this line of industry it’s good to know that you can register for both your ABN and GST online and at the same time. Alternately, your BAS agent can do this for you to save you the time!
If you are already registered for GST as an individual you may use the same GST registration for your ride-sourcing service. If you are registered for as a company for GST – you are not permitted to use this will need to register separately for GST as an individual.
As for Services and Commission:
Any services provided by a GST registered facilitator will be subject to GST if they are provided from the following:
From within the country of Australia or 100% through an Australian business carried on here.
You may claim GST credit for the GST you have to pay on service fees or commission if you’re registered for GST.
Please be advised: You cannot claim a GST credit for the GST you pay on service fees or commission if you’re not registered for GST.
At Nifty Accounting we have experience in assisting ride sourcing drivers, whether you are new to the industry, need someone to take care of the paperwork or would like some general advice, call David at Nifty Accounting Today! We can keep it simple, we are knowledgeable and we are here to help you!