• I've just started up my own business as a sole trader: what do I need to know about tax?

    Starting up as a sole trader changes the way you report income and pay your taxes. We can make sure that you're ready for the transition, no matter which industry you're from.

    Book a consultation
  • Need accounting software advice and support?

    Our extensive expertise in all aspects of accounting software means you can concentrate on what you do best – running your business. We are accredited Xero specialists and have been MYOB, Intuit and Reckon Partners for many years.

    Learn more about Our Services
  • We want to start our own business: how do we set up the company?

    At PBA Financial Group we specialise in the setting up of start-up and new businesses. We'll set up a solid foundation for your new business so that you can hit the ground running!

    Learn more about Our Services
  • I've always done my own tax returns without the help of an accountant

    More often than not, people who do their own tax returns will miss out on valuable deductions simply because they didn't know what they were entitled to claim, or they incorrectly claim expenses.

    Are you sure your tax return is as accurate as it could be?

    Book an appointment

Latest News

Uber drivers hit for 10% tax

 
In a recent decision, the Federal Court has held that the UberX service supplied by Uber’s drivers constitutes the supply of “taxi travel” for the purposes of GST. 

 
 
The Australian Taxation Office (ATO) has now advised that people who work as drivers providing ride-sharing (or ride-sourcing) services must:
 
  • keep records;
  • have an Australian Business Number (ABN);
  • register for GST;
  • pay GST on the full fare they receive from passengers;
  • lodge activity statements; and 
  • include income from ride-sharing services in their tax returns.
 
If you work as a ride-sharing driver, you are also entitled to claim income tax deductions and GST credits on expenses apportioned to the services you have supplied.  Whilst the record keeping for income should be straight forward, total vehicle costs requires greater effort and apportioning those will require justification.
 
You must register for GST if you earn any income by driving for a ride-sharing service. The usual $75,000 GST registration threshold does not apply for these activities.
 
And don’t think you will avoid detection by ATO – Uber and their bank(s) provide very detailed information direct to the ATO.
 
 
AcctWeb