Maintain a Car Log Book to track your expenses as a fair go.
If you’re doing a full-time job and driving UBER as a part time, it is always advisable to maintain a log book as we can calculate the percentage of your car used for UBER and personal trips. The complicated part is how you keep records and calculate your car deduction claim. That’s why the car logbook method is becoming very popular these days to measure and claim your car usage.
How log book can be maintained
ATO has issued some strict guidelines for logbook maintenance and the things which we need to pen down in the log book. It should include all the trips you took be it UBER or personal. This will help in calculating exact percentage for UBER.
The other necessary things which a logbook should contain are:
There are other several things which we can claim while driving UBER but there must be receipts or supporting evidence for that expense. So, we always advise our clients to keep their records.
As per Sydney Morning Herald ATO had issued letters to 60,000 UBER and other ride sharing drivers to keep their records tidy. ATO started collecting data in August 2015 but about one third of 100,000 individuals who received payment for ride sharing are not registered for GST. Until March 2017 a large number of drivers registered for GST but some drivers were yet to register.
At EZY Accounting, we provide services at very affordable prices and help ride sharing drivers in lodging their BAS or GST returns on timely basis. We also provide necessary registration services like ABN and GST.
Contact us today for more information
