Uber Tax is an Accounting and tax practice for Uber drivers seeking specialist advice, a stress-free tax return and the peace of mind that their Inland Revenue tax obligations are taken care of. When you drive for Uber, you are regarded as “self employed” or an “independent contractor”. This means that at the end of the year, you will be required to file an Income Tax return to account for the Uber fares you have earned.
When it comes to paying tax, being an Uber driver is a bit more complicated than earning a salary or wages. However, there are many benefits of a being self employed Uber Driver.
The biggest advantage is that you don’t pay taxes on the net (total) income received. Rather, you get to reduce your income by claiming business-related expenses incurred as an Uber driver. We know exactly how Uber businesses work, so we can ensure you pay the least tax possible.
When completing Tax returns for Uber drivers, we can claim many different deductions, such as money spent on petrol, repairs and maintenance, vehicle insurance and home office expenses to name a few. Also, if you own the vehicle you drive, we can claim depreciation as well.
If you are unsure about your GST obligations as an Uber driver, see our simple guide here.