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Did you know UBER drivers need to be GST registered?

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Now we all know Australia has been taken over by UBER drivers, UBER driving is on the increase. So I wonder if those drivers out there, realise they need to be GST registered.

In this article, the ATO is reminding people involved in ride-sourcing to make sure they understand their tax obligations. httpss://www.ato.gov.au/Media-centre/Media-releases/Don-t-take-your-tax-return-for-a-ride/

So for any UBER driver or ride-sourcing enterprise, the ATO is reminding those that they must be registered for GST regardless of their turnover and pay GST on the full fare.

If you are a ride-sourcing service and do not have a ABN (Australian Business Number) and GST registration, then this needs to be your first priority. Remember you can also claim tax deductions and GST credits within your business. For example your car, fuel, servicing, smartphone and data usage is all claimable tax deductions.

Even if you purchase something that is used for both business and private, you can claim the part that relates to your business use.

Most UBER or ride sourcing services they like to be called generally are sole traders, unless they have other formal arrangements for their business structure.

If you would like to find out more about this and need assistance in this area, do not hesitate to contact Maree Punzet from Maree’s Mobile Bookkeeping on 0429 363 047 or visit Maree’s website www.mareesmobilebookkeeping.com.au

Maree does more than just Bookkeeping!

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If you haven’t already, you must check out Maree Punzet’s website, the link is www.mareesmobilebookkeeping.com.au

Maree doesn’t only do just Bookkeeping, Tax returns and BAS Statements, she also does Financial Management.

Maree has been in business over 20 years and has years of experience when it comes to Financial Management.

Wouldn’t you prefer to outsource this area of your business? I know I would!

These are the areas that Maree Punzet can help you with:

Accounts Management/Accounts Receivable

·       Invoicing, and basic debt collection cost is $70 a month up to 15 invoices.

·       Extra invoices are charged at $3 per invoice

Accounts Payable

·       She can process your supplier payments for you. Cost is $70 a month for up to 15 suppliers.

·       Extra supplier payments are charged at $5 per invoice.

Prepare all financial reports

·       Profit and loss, graphs to compare sales from one quarter to the next, or one year to another.

·       This is $200 a month per report and included will be dot point on trends and analysis.

Payroll Processing

·       1-5 employees = $110/month

·       5-10 employees = $150/month

·       10+ employees = $220/month

·       Includes payroll processing, superannuation calculation and lodgement, preparation of end-of-year payment summaries and electronic reporting with the ATO

So for the cost of actually outsourcing these tasks to Maree is small in comparison to your time. So if you want someone that can get the job done accurately and on time, then do not hesitate to contact Maree Punzet from Maree’s Mobile Bookkeeping on 0429 363 047.

Bookkeeping’​ is like a box of chocolates

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So true, like the story of Forrest Gump. ‘Bookkeeping’ is like a box of chocolates, you never know what your going to get.

Each client that I work for, come from different areas, backgrounds and industries. When I receive their paperwork, believe me, it is like a box of chocolates. Hand written notes on post-it’s, shoeboxes full of receipts, emails explaining different expenses.

It can be quite humourous as many clients absolutely detest this part of their business, that is why they outsource to me. So let me get your ‘chocolates’ in order and fix your bookkeeping today.

Contact me today.

Maree Punzet
Maree’s Mobile Bookkeeping
M: 0429 363 047