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Alex wants to start recording her ride-sourcing income and expenses in her spreadsheet. Let’s review the platform tax summaries first.
What makes up Alex’s ride-sourcing income?
Her ride-sourcing income is made up of the full amount the passenger pays to the platform and the bonuses and extra payments she gets from the platform.
To complete the income section of your spreadsheet you record the gross fare which is the full passenger fare, split fare fees, tolls, city and government fees, airport fees and booking fees, other payment types and tips.
Whatever is charged to your passenger on behalf of your ride-sourcing business forms part of your income, along with any other payments like bonuses, or other payments a platform has paid you.
Last modified: 17 May 2023
Ride-sourcing: Income, expenses and GST
Steps | Progress | ||||
---|---|---|---|---|---|
Ride-sourcing and tax |
4 mins | ||||
Managing income |
4 mins | ||||
Claiming expense deductions |
13 mins | ||||
Calculating and recording expense deductions |
6 mins | ||||
Calculating and recording GST |
6 mins | ||||
Completing your business activity statement (BAS) |
2 mins | ||||
GST considerations when purchasing a new ride-sourcing vehicle |
2 mins | ||||
Related courses |
1 mins | ||||
Course Feedback |
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