Worked on TFN and ABN. Tax Related Question

[Deactivated] on 31/08/2017 - 15:40
Last edited 31/08/2017 - 15:42

My income as an employee was $21xxx and income from Uber was 9xxx in the past financial year. I have paid GST on my income from Uber. However, the income tax will be applied on the total taxable income from both employer + uber.

Usually when you work on TFN you can claim a good chunck back for example; Previously my tax withheld was 7××× i got 5xxx back but this time my tax withheld from my job as an employee is 3xxx and i am getting 15xx and if i reduce the gst amount i paid for driving uber I'll end up with $7xx

Is this normal or have i filled my tax incorrectly..

This is my first year working on ABN and TFN.

Please share your thoughts.

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Comments

  • Baysew on 31/08/2017 - 15:56
    +1

    See a Tax Accountant!
    (It is tax deductible)

    The ATO just warned tax-dodging Uber drivers they will be caught

    Have you done a BAS statement as required?

    See also your previous post Uber Driver - Records Not Kept (GST Question)

  • loke on 31/08/2017 - 15:59

    and i am getting 15xx and if i reduce the gst amount i paid for driving uber I'll end up with $7xx

    Don't quite understand this bit.

    Did you mean to say that your tax refund was reduced to ~$700 after including your Income (Net of GST) from Uber?

    Make sure you work out your deductions properly, are you familiar with the deductions you can claim when driving for Uber? e.g. car expenses / logbook % (12 weeks)

    • [Deactivated] on 31/08/2017 - 16:15

      Sorry that i made that part a bit confusing.

      So the tax refund estimate is 15xx after medicare levy etc.

      And i am supposed to pay GST on 9xxx (uber income after all expenses deducted) which is roughly 8xx.

      So if you ask me what will i get back. So the figure would be just 7xx.

      Is it making sense.

      • loke on 31/08/2017 - 16:33

        You have to pay GST regardless (being GST registered), so it really comes down to making sure you are claiming all the deductions that you are entitled to

        e.g. depreciation on motor vehicle can be pretty big if your car is newer (via logbook method), mobile phone bill call and data use by % if it was used a large amount for business (usually something like itemising a 1 month bill for work/personal).

        I'd look for list or checklist online when it comes to working through deductions as an employee and deductions for small business (should also get a small business income tax offset provided you are a sole trader/unincorporated) and taxi/uber industry deductions to make sure you don't miss anything.

  • toniyellow on 31/08/2017 - 16:00
    +1

    You should ask a tax professional

    There is a program for low income earners called Tax Help
    https://www.ato.gov.au/individuals/lodging-your-tax-return/t…
    Although driving for Uber might mean you aren't eligible for it.

    If you're not, see if there are any programs run by your local council, and your nearest community centre, etc, or just pay the fee at a commercial place and ask a lot of questions to make it worth it. Some claim to specialise in Uber drivers https://www.hrblock.com.au/uber

      • airzone on 31/08/2017 - 17:37
        +2

        You can claim the cost of managing your tax affairs as a tax deduction.

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