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Discussion Starter · #1 ·
I know it's heavily advised to see a tax accountant but I'd like information nonetheless with online documents/webpages to back up what you're saying.

The only knowledge I have is that I can claim a percentage of my expenses based on how much each expense was used for business (e.g. my fuel for the year has probably been 75% business).

Thanks in advance to all the sincere comments to come. :)
 

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I know it's heavily advised to see a tax accountant but I'd like information nonetheless with online documents/webpages to back up what you're saying.

The only knowledge I have is that I can claim a percentage of my expenses based on how much each expense was used for business (e.g. my fuel for the year has probably been 75% business).

Thanks in advance to all the sincere comments to come. :)
Giveaway waters, lollipops, gum, tissues, sick bags (just keep receipts )
Magazine subscriptions ('cause you put them in the car for rider's reading pleasure)
Car washes and cleaning products
% of accelerated depreciation - (BIG deduction), % of tyres, fuels, services, phone plan,
100% of business rego, license, authorities, NRMA breakdown service, not sure about % of insurance

Find an accountant who ALREADY has taxi/courier/limo operators as clients
 

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Discussion Starter · #3 ·
Giveaway waters, lollipops, gum, tissues, sick bags (just keep receipts )
Magazine subscriptions ('cause you put them in the car for rider's reading pleasure)
Car washes and cleaning products
% of accelerated depreciation - (BIG deduction), % of tyres, fuels, services, phone plan,
100% of business rego, license, authorities, NRMA breakdown service, not sure about % of insurance

Find an accountant who ALREADY has taxi/courier/limo operators as clients
Thanks a lot! I want to go to an accountant but I don't know if I trust someone I don't know to handle my tax and potentially cock up my return. Do they have any kind of incentive to do it right and to get you as much as you're entitled to?
 

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Thanks a lot! I want to go to an accountant but I don't know if I trust someone I don't know to handle my tax and potentially cock up my return. Do they have any kind of incentive to do it right and to get you as much as you're entitled to?
I had a real bad experience with a accountant, he cost me $1000s. So choose them well. Or speak with g00r he has a system in place I believe that makes all Tax Time headaches go away.
 

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Discussion Starter · #5 ·
I had a real bad experience with a accountant, he cost me $1000s. So choose them well. Or speak with g00r he has a system in place I believe that makes all Tax Time headaches go away.
See, and that makes it all pointless. I mean, all i have to claim is fuel and depreciation (I think) as I haven't documented the year very well (won't happen for next FY) so is going with H&R Block such a bad idea?
 

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See, and that makes it all pointless. I mean, all i have to claim is fuel and depreciation (I think) as I haven't documented the year very well (won't happen for next FY) so is going with H&R Block such a bad idea?
That I couldn't say. My advice is go to one that has transport industry experience
 

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ee, and that makes it all pointless. I mean, all i have to claim is fuel and depreciation (I think) as I haven't documented the year very well (won't happen for next FY) so is going with H&R Block such a bad idea?
If you have receipts for fuel purchases, that's a start, but depending on how many kms you have travelled (likely more than 5k?) then you will need a log book as evidence if the ATO ever comes knocking.

It's not that an accountant is a bad idea, but they can only process what you give them.
 

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Hah yeah partner People

Unqualified and you will lose half your earnings
That is problem when you start at a unsustainable low rate. There are REAL support costs involved in running a transport business.

If you choose to offer your driving services at a discount, then don't expect other professional services to lower their rates to support your thin margins.

UberX rates will see the neccesity of running a very lean operation. Decisions such as $80 no name Chinese tyres v $220 Bridgestones, or Ferodo / Bendix brake pads v el-cheapo pads. Good known accountant v struggle with Tax laws yourself or throw to some youngster out of bookkeeping school.

I wasn't immune from taking the cheap options either when funds were low, but over the years you learn that you get what you pay for
 

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That is problem when you start at a unsustainable low rate. There are REAL support costs involved in running a transport business.

If you choose to offer your driving services at a discount, then don't expect other professional services to lower their rates to support your thin margins.

UberX rates will see the neccesity of running a very lean operation. Decisions such as $80 no name Chinese tyres v $220 Bridgestones, or Ferodo / Bendix brake pads v el-cheapo pads. Good known accountant v struggle with Tax laws yourself or throw to some youngster out of bookkeeping school.

I wasn't immune from taking the cheap options either when funds were low, but over the years you learn that you get what you pay for
A qualified accountant is cheaper and will do a better job than partner people who take your pay directly from Uber and then leave you with half.

It's bordering on a scam
 

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I did it myself using mytax through the ATO portal... what a pain in the arse... last year the ATO successfully imported all my bank, super, financials etc but this year they only got a few ... & the business section of mytax is extremely confusing.. I knew what return I was supposed to get but it took 4 hours & a lot of going back & forth to get it to work...
 

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If you already have employment then you won't be able to claim the tax-free threshold on Partnerpeople as your second job hence the higher tax rate. Much like any other second employment job, you'll be taxed higher, that being said you'll likely get a full refund at the end of the year using PP as opposed to a tax bill as an IC.

Its in poor taste to bad mouth a company simply for running it honest and by the books.
 

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Hahahahah great find there and yes a real accountant can do a better job without giving fraudulent advice too

Do not use Partner People
If you start with only $1.45 per Km, then there won't be much wriggle room to employ professional support services. Take the 12.5% GST you pay thanks to UBER's Netherlands HQ and insistence of taking their commission off the gross fare and not off the amount after GST. Then all the other statutory costs. Then contribute to a contingency fund for when something WILL break or need urgent repair on your car.

Then prepare yourselves for Government agencies and Insurance companies finally playing catchup. Discovering the great new opportunity that UBER has provided them to broaden their public vehicle fees and charges pool. Better still they'll charge annual fees when in reality the average Rideshare driver lasts less than 6 months, finally working out the maths.
 

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If you already have employment then you won't be able to claim the tax-free threshold on Partnerpeople as your second job hence the higher tax rate. Much like any other second employment job, you'll be taxed higher, that being said you'll likely get a full refund at the end of the year using PP as opposed to a tax bill as an IC.

Its in poor taste to bad mouth a company simply for running it honest and by the books.
I don't see any problem with warning would be customers that the business owner has advocated that people commit tax fraud. It's also an open question about whether a court would find his customers to be employees if the need arises, ie. if a worker's compensation claim is denied because they're not genuine employees and it's a sham arrangement. That's a risk customers should be aware of before taking the plunge, don't you think?
 

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I don't see any problem with warning would be customers that the business owner has advocated that people commit tax fraud. It's also an open question about whether a court would find his customers to be employees if the need arises, ie. if a worker's compensation claim is denied because they're not genuine employees and it's a sham arrangement. That's a risk customers should be aware of before taking the plunge, don't you think?
I agree in part with what you said, the GST claiming of GST credits prior to 1st Aug 2015 was rectified and found to be not the case. Like any new business it may experience some growing pains much the same as Uber, the good part of PP is that it is situated in Australia and it's very easy to get a hold of them should any issues arise.

I don't see an issue with the employment arrangement or workers comp cover at this stage, in comparison to the Uber driver agreement that technically would leave you rinsed if anything bad occurred.
 
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