Tax deductions for Uber drivers
As an Uber driver, there are a range of tax deductions you can claim. My Uber Income app makes it easier to manage your deductions and calculate your BAS and…
How to calculate Uber car depreciation and instant write-off
Depreciation, or decline in value, is the cost of the vehicle spread over its effective life. Depreciation of cars for tax purposes can be claimed when used to produce taxable income. …
Due dates for lodging and paying your BAS
Quarterly reporting due dates: Quarter Due date 1 - July, August and September 28 October 2 - October, November and December 28 February 3 - January, February and March 28…
Nothing to report on your BAS
Even if you have nothing to report in the quarter, you still have to lodge a nil activity statement. According to the ATO, the easiest and fastest way to lodge…
PAYG instalment variations
According to the ATO, "pay as you go (PAYG) instalments is a system for making regular payments towards your expected end of year income tax liability". The ATO will automatically…
Tax invoices and record keeping for GST credits
1. Make sure you hold valid tax invoices for purchases above $82.50 (including GST) For a tax invoice to be valid it needs to include the:- words 'tax invoice'- seller's…