Joined
·
1,657 Posts
Uber is like any other job or 2nd job you might have - you pay tax on it. You're not getting taxed extra just because it's Uber, you are getting taxed because income derived from working (i.e. not a hobby) is taxable.
https://www.ato.gov.au/Rates/Individual-income-tax-rates/
If you have a full time job earning say $50,000 per year - you are already paying $3,572 in tax + 32.5 cents in the dollar for each dollar earned between $37,001 and $50,000 - so $7796 in tax. If Uber is your 2nd job and you earned say $20,000 with them - you still fall within the same tax bracket so you pay an additional 32.5 cents on every Uber dollar earned - meaning another $6500 in tax. This is tax that is payable - you obviously have tax deductions meaning you will get some, a lot or even all of this tax back depending on your circumstances.
Not really sure what you mean by "deducted badly" - if you mean Uber didn't deduct tax from our earnings, then you are correct - Uber didn't take one cent in tax, it's up to you to withhold tax to meet your tax obligations. This is buried in the partner agreement if you read through it though, Uber really should be pointing this out to new drivers but hey, that's Uber for you.
https://www.ato.gov.au/Rates/Individual-income-tax-rates/
If you have a full time job earning say $50,000 per year - you are already paying $3,572 in tax + 32.5 cents in the dollar for each dollar earned between $37,001 and $50,000 - so $7796 in tax. If Uber is your 2nd job and you earned say $20,000 with them - you still fall within the same tax bracket so you pay an additional 32.5 cents on every Uber dollar earned - meaning another $6500 in tax. This is tax that is payable - you obviously have tax deductions meaning you will get some, a lot or even all of this tax back depending on your circumstances.
Not really sure what you mean by "deducted badly" - if you mean Uber didn't deduct tax from our earnings, then you are correct - Uber didn't take one cent in tax, it's up to you to withhold tax to meet your tax obligations. This is buried in the partner agreement if you read through it though, Uber really should be pointing this out to new drivers but hey, that's Uber for you.
