Ride sourcing

If you are running or are about to start running a ride-sourcing enterprise, you will need to get an Australian Business Number (ABN) and register for GST. Fares you receive are subject to GST and the money you receive from ride-sourcing is subject to income tax.

You can register for an ABN and GST at the same time online via www.abr.gov.au. Your tax agent can also apply for an ABN and GST registration for you.

Your GST registration will need to start from the date you start your ride-sourcing enterprise.

If you are already registered for GST as an individual for another industry, you can use the same GST registration. Though, if you have a company, the company must have its own separate GST registration.

Your tax agent or tax adviser will be able to help you understand what your tax obligations are for running a ride-sourcing enterprise.

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Thompsons Australia Newsletters and articles are distributed by professional tax practitioners to provide information of general interest to our clients. The content of this newsletter does not constitute specific advice. Readers are encouraged to consult their tax adviser for advice on specific matters.