# Quarterly BAS



## MyRedUber

Thursday 31st March will be the end of the quarter.
Time to get your BAS in order. And have you got enough money set aside to cover your GST liability?

"
The due date for lodging and paying is displayed on your business activity statement (BAS). If the due date is on a weekend or public holiday, you can lodge your form and pay on the next business day.

Quarter
Due date

1 - July, August and September
28 October

2 - October, November and December
28 February

*3 - January, February and March

28 April*

4 - April, May and June
28 July
"


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## MyRedUber

I've had an ABN for some years so didn't need to do that part. But I did email asking them to change my registration from book sales, which I'm no longer doing. They didn't need any reclassification, other than Sole Trader, under my own name.
The phone call to register for GST took about five minutes.


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## MyRedUber

Also, when you register for GST, you can ask them to backdate it, to the date you started UberXing or August 2015, whichever is the latest. For UberXing, you don't need to do the GST thing before August 2105.


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## g00r

But if you were driving before Aug 2015, it makes sense to register for GST (claim inputs without having to remit for fares (refund))


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## UberDriverAU

g00r said:


> But if you were driving before Aug 2015, it makes sense to register for GST (claim inputs without having to remit for fares (refund))


That might be near the worst piece of advice I've seen on these forums. If you registered for GST prior to the 1st of August, you would be obliged to remit your GST liability. If you are registered for GST on a given day, then you are liable to pay GST on any taxable supplies you made on that day. It's as simple as that.


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## g00r

GST wasn't payable on Uber fares prior to Aug 1 2015.
It's no different to farmers being registered for GST, their supply is FRE but their expenees are mostly CAG or NCG resulting in refunds each quarter.


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## UberDriverAU

g00r said:


> GST wasn't payable on Uber fares prior to Aug 1 2015.
> It's no different to farmers being registered for GST, their supply is FRE but their expenees are mostly CAG or NCG resulting in refunds each quarter.


No, that's not correct. What the ATO has said is:


ATO said:


> Even though our interpretation of the GST law *is relevant for earlier periods*, we do not plan to apply compliance measures to ride-sourcing for periods before 1 August 2015 *unless there is evidence of fraud* or other serious matters.


You are encouraging people to commit tax fraud, which would see them incur the wrath of the ATO.


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## g00r

Okay, I stand corrected.


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## UberDriverAU

The ATO is being generous as it is by giving us some leeway with dates. There's no need to push the friendship, lol.


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## MyRedUber

One other thing that may affect a small number of people.

If you are already running some other business as a sole trader, but not collecting GST because your revenue is below the $75K minimum, and you register for GST because you're doing "ride-sourcing, you must then collect GST on all of your business revenue. You can't separate your "ride-sourcing" business from your other business.

This does not affect anyone whose only other source of income is as a wage/salary earner.


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## Instyle

g00r said:


> GST wasn't payable on Uber fares prior to Aug 1 2015.
> It's no different to farmers being registered for GST, their supply is FRE but their expenees are mostly CAG or NCG resulting in refunds each quarter.


Although, you might recall Michael from the ATO saying you couldn't have it both ways prior to Aug 1st.

Is everyone remembering to only claim the percentage of GST credits proportionate to business use? Just about everyone I've spoke to in the field said they got a credit for the first quarter without any large capital purchases. How is that possible without running at a loss!?


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## g00r

10% of high fuel prices?


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## MyRedUber

Instyle said:


> Just about everyone I've spoke to in the field said they got a credit for the first quarter without any large capital purchases. How is that possible without running at a loss!?


A few small capital purchases and not a lot of driving. The part-timers. Full-timers would have had a GST liability.


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## Instyle

MyRedUber said:


> A few small capital purchases and not a lot of driving. The part-timers. Full-timers would have had a GST liability.


The thing I don't understand is a p/t driver that does little driving would have a much smaller business use percentage of the any GST from purchases.


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## Instyle

g00r said:


> 10% of high fuel prices?


For example if a drivers 12wk logbook indicates a 40% business use vs personal, they'd only be eligible to claim 40% of the 10% GST paid on expenses? - For the purpose of GST

I suspect people are crediting the full amount of GST on related purchases or there running at a loss.


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## UberDriverAU

Instyle said:


> For example if a drivers 12wk logbook indicates a 40% business use vs personal, they'd only be eligible to claim 40% of the 10% GST paid on expenses? - For the purpose of GST
> 
> I suspect people are crediting the full amount of GST on related purchases or there running at a loss.


I'm not sure how you could get a GST refund without having made a significant purchase(s) or ran at a loss.

If your revenue is ~$1.10/km, and your running costs are ~$0.22/km, with 100% business use, then at most your GST debit to GST credit ratio will be ~5:1 ($0.10/km to $0.02/km). With lower business use, then the debit:credit ratio would be higher.

Perhaps paying insurance, rego, etc, for the full year in advance rather than paying monthly would do the trick?


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## SneakyPete

Grand said:


> I just checked and no email or template. I want to complete 4Q15!


The ATO (Australian Tax Office also known as the Australian Max Office) will fine you $150/mth up to a Max $850 for a late form. Not the Gst money but the late form !

The Australian Max Office will wait till May 2016 to send you a query letter then bam comes the $850 fine. They treat all as criminals and Max out each fine.


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## Silver Cap

I just went through an audit from the ATO after lodging a large capitol purchase. Clean bill of health got my GST refund, not in cash, but tax credits. 
The ATO is keeping a close eye on drivers this year, be careful people.


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## Silver Cap

UberDriverAU said:


> I'm not sure how you could get a GST refund without having made a significant purchase(s) or ran at a loss.
> 
> If your revenue is ~$1.10/km, and your running costs are ~$0.22/km, with 100% business use, then at most your GST debit to GST credit ratio will be ~5:1 ($0.10/km to $0.02/km). With lower business use, then the debit:credit ratio would be higher.
> 
> Perhaps paying insurance, rego, etc, for the full year in advance rather than paying monthly would do the trick?


If drivers consistently get a GST refund and run at a loss for tax purposes then they will quickly get a please explain phone call, followed by a send us all your receipts and income paperwork. But on the bright side the ATO staff are very friendly and helpful and are here to help you. Just like Uber Staff. lol


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## MyRedUber

April 1st. BAS Day.


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## Silver Cap

MyRedUber said:


> April 1st. BAS Day.


April 23 is for me.


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## Goethite

Grand said:


> I recently registered for and got an ABN after an hour on the phone with ATO. The activity for ride sharing/ ride sourcing etc did not have a matching classification. Can't remember what she ended up recommending as the taxi options were not an accurate fit. I would have thought the ATO would have amended the menu to handle this. Anyway then attempted to register for BAS. Another hour with ATO which ended with me being advised to wait for an email and creation of template. I just checked and no email or template. I want to complete 4Q15!
> I guess I will have to ring Tuesday.


 very similar to my experiences recently ...


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## WollyDriver

If your weekly summary looked like this:
Fares: $1000
Surge: $50
Uber Fee: $200
Toll: $100
Rider Fee: $2
Rider Fee: -$2

1) ignore the Rider fee, they cancel each other out.
2) GST Payable: $1000 (Fares) + $100 (Toll) = $1100/11 = $100 This is the amount you owe the ATO
3) You can then calculate how much you spent on petrol/water/tolls/etc and that is the amount the ATO will owe you, deduct from 3 ($100) and pay the ATO this amount.

When doing your tax return:
Income = Fares ($1000) + Surge ($50) + Toll ($100) - GST ($100) - Uber Fee ($200) = $850
Total expenses = Petrol + Water + Tolls + Maintenance + etc, deduct from $850
This is the amount of "income" from Uber, you then pay a percentage of tax on this amount.

The answer to your specific questions:
1) Yes, the $200 is an expense
2) No, there is no GST charged to Uber (because they are outside Australia) so the $200 did not include GST, your assumption was wrong "The commission of $200 has a GST component", it doesn't include GST.

If you have any issues, please ask, for real tax advice, ask an accountant. I'm just an Uber driver (well, amongst other things, but definitely not a tax professional)


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## Instyle

Grand said:


> BAS and GST
> On the income side. The total fare including Uber commission is subject to GST.
> 
> Now, as an example, say the commission is $200. The commission of $200 has a GST component.
> 
> On the expenses side.
> 1. Is the $200 treated as a expense?
> 2. Can I claim tax credit on the GST portion?


As your leads are sourced from an international entity, you can not charge GST to a foreign country (Holland). Typically if you were dealing with an Australian business the commission paid would have a GST component that would add to your credits, this is not the case with Uber.


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## ghs

MyRedUber said:


> One other thing that may affect a small number of people.
> 
> If you are already running some other business as a sole trader, but not collecting GST because your revenue is below the $75K minimum, and you register for GST because you're doing "ride-sourcing, you must then collect GST on all of your business revenue. You can't separate your "ride-sourcing" business from your other business.
> 
> This does not affect anyone whose only other source of income is as a wage/salary earner.


In this situation it would be best to setup 2 separate ABN's.


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## sporadic

You owe GST on the surge too.



WollyDriver said:


> If your weekly summary looked like this:
> Fares: $1000
> Surge: $50
> Uber Fee: $200
> Toll: $100
> Rider Fee: $2
> Rider Fee: -$2
> 
> 1) ignore the Rider fee, they cancel each other out.
> 2) GST Payable: $1000 (Fares) + $100 (Toll) = $1100/11 = $100 This is the amount you owe the ATO
> 3) You can then calculate how much you spent on petrol/water/tolls/etc and that is the amount the ATO will owe you, deduct from 3 ($100) and pay the ATO this amount.
> 
> When doing your tax return:
> Income = Fares ($1000) + Surge ($50) + Toll ($100) - GST ($100) - Uber Fee ($200) = $850
> Total expenses = Petrol + Water + Tolls + Maintenance + etc, deduct from $850
> This is the amount of "income" from Uber, you then pay a percentage of tax on this amount.
> 
> The answer to your specific questions:
> 1) Yes, the $200 is an expense
> 2) No, there is no GST charged to Uber (because they are outside Australia) so the $200 did not include GST, your assumption was wrong "The commission of $200 has a GST component", it doesn't include GST.
> 
> If you have any issues, please ask, for real tax advice, ask an accountant. I'm just an Uber driver (well, amongst other things, but definitely not a tax professional)


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## ghs

Taxi drivers need to pay it, so there's no reason why Uber drivers shouldn't.


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## Instyle

ghs said:


> In this situation it would be best to setup 2 separate ABN's.


One individual can't have anymore than 1 ABN


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## ghs

So what if you have 2 businesses in 2 completely different industries ?


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## Instyle

ghs said:


> So what if you have 2 businesses in 2 completely different industries ?


You can have 2 business names on 1 ABN


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## WollyDriver

Best option would be to setup an actual company for one of your ventures, a company is a separate entity and can have it's own ABN, but there are other fees/overheads involved.....


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## whocareaboutPAX

did my bas last week, owe them $900.. payment plan of $12 a week


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## WollyDriver

Just remember you will need to ensure you pay and submit your next bas on-time. The more times you can't afford to pay, the harsher they get. You should be putting aside another $70 - $80 / week for your next bas (assuming you are doing similar amount of turnover).
Also, that is interesting you have well over one year to pay off your debt. Is that interest free? If they are charging you interest, it might be better to pay it back early.


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## Instyle

WollyDriver said:


> Just remember you will need to ensure you pay and submit your next bas on-time. The more times you can't afford to pay, the harsher they get. You should be putting aside another $70 - $80 / week for your next bas (assuming you are doing similar amount of turnover).
> Also, that is interesting you have well over one year to pay off your debt. Is that interest free? If they are charging you interest, it might be better to pay it back early.


It will incur standard interest, whocareaboutPAX will receive written correspondence from the ATO outlining the agreed payment plan which will show the payments and total interest applicable for the terms.


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## joffie

Shit! Due already.. again !!
UBER never sent me a quarter tax summary.
They did last time.
Guess wee need to manually calculate earnings.
Damn.. welcome to the hell of running a small business lol


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## whocareaboutPAX

Instyle said:


> It will incur standard interest, whocareaboutPAX will receive written correspondence from the ATO outlining the agreed payment plan which will show the payments and total interest applicable for the terms.


Interest?
According to the website.. I pay a CRM (or something) about $5


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