- Ride-sourcing involves using a car to transport passengers for a fare through a digital platform.
- Income from ride-sourcing is subject to GST and income tax.
- Drivers must register for an Australian business number and GST from the start of providing services, unless they are employees.
- Penalties may apply for not registering for GST.
- Registered drivers must report and pay GST on sales, lodge business activity statements, and can claim GST credits for business-related purchases.
- A tax invoice must be issued for fares over $82.50 if requested by a passenger.
Source: ato.gov.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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