Looking again at our cycle of events there are a number of things you need to keep track of when ride-sourcing, the:

• amount of money or income you make from ride-sourcing
• expenses you pay for as part of making your ride-sourcing income
• GST you have collected from your passengers and the GST you have paid as part of your expenses.

To make your life as easy as possible keep your records in good order. Set regular time aside to keep them up-to-date. This way you keep on top of all your entitlements and you don’t end up overpaying tax.