GST For Taxi Drivers

For GST purposes, the word taxi means a car (vehicle) made offered for public hire that is used to transport passengers for fares.

State and territory laws adaptable transportation of passengers contain exact definitions of the term taxi. It is possible for a vehicle to be a taxi for GST purposes, but not for state and territory regulatory purposes.

This information clarifies how the tax laws ATO control apply to ride-sourcing.

ATO express no view concerning whether ride-sourcing vehicles are taxis within the state and territory specific definitions, or on the authority of ride-sourcing arrangements.

Ride-sourcing is an ongoing arrangement where:

  • you (a driver) make a car available for public hire
  • a passenger uses, for example, a website or smart phone app provided by a third party (facilitator) to request a ride
  • you use the car to transport the passenger for payment (a fare) with a view to profit.

Ride-sourcing arrangements can be enabled by a skill platform maintained by a third-party facilitator. Typically, a website or mobile device purpose is used to make easy a transaction between a driver and a passenger.

This may not be applicable if:

  • non-commercial car-pooling arrangements where passengers contribute petrol money or other planning where there is no view to profit
  • car sharing arrangements where multiple users have way in to a car which they use to drive themselves from one location to another
  • arrangements that use vehicles other than cars, for example motorized tricycles
  • arrangements where a car is used only to transfer passengers for a particular purpose, for example a wedding or a funeral procession, and which is not made available more generally to ship members of the public from one place to another.

For more information on myTax 2018, myGov 2018, Online Tax Return 2018 , or any other related matterplease contact us at 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

GET FREE Tax Refund estimate and Option of getting refund in 1 Hour, prior year Tax returns are also available, Just fill in your basic details on our website at www.taxrefundonspot.com.au or by emailing us on enquiry@taxrefundonspot.com.au we will check your employment history from ATO records, personal visit available at tax refund on spot.

We also have our separate department for Home loan, refinancing, car & truck loan.

Goods and Services Tax (GST)

GST is a broad-based tax of 10% on the majority goods, services and other items sold or consumed in Australia.

Generally, businesses and other organizations registered for GST will:

  • include GST in the cost they charge for their goods and services
  • claim credits for the GST included in the price of goods and services they buy for their business.

What you need to do for GST

If you run a business or other enterprise and have a GST turnover of $75,000 or more ($150,000 or more for non-profit organizations) or you provide taxi travel – you need to:

  • register for GST
  • work out whether your sales are taxable (that is, subject to GST, and not exempted because they are GST-free or input-taxed) and include GST in the price of your taxable sales
  • issue tax invoices for your taxable sales and obtain tax invoices for your business purchases
  • claim GST credits for GST included in the price of your business purchases
  • account for GST on either a cash or non-cash basis and put aside the GST you have collect so you can pay it to us when due
  • lodge activity statements or annual returns to account your sales and purchases, and pay GST to us or accept a GST refund.

You must register for GST if:

  • your business or enterprise has a GST turnover (gross income minus GST) of $75 000 or more
  • your non-profit organization has a GST turnover of $150 000 per year or more
  • you provide taxi or limousine travel for passengers in exchange for a fare as part of your business, regardless of your GST turnover – this applies to both landlord drivers and if you lease or rent a taxi
  • you want to maintain fuel tax credits for your business or enterprise.

If your business or enterprise doesn’t fit into one of the above categories, registering for GST is possible However, if you choose to register, you usually must stay registered for at least 12 months.

For more information on myTax 2018, myGov 2018, Online Tax Return 2018 , or any other related matterplease contact us at 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

GET FREE Tax Refund estimate and Option of getting refund in 1 Hour, prior year Tax returns are also available, Just fill in your basic details on our website at www.taxrefundonspot.com.au or by emailing us on enquiry@taxrefundonspot.com.au we will check your employment history from ATO records, personal visit available at tax refund on spot.

We also have our separate department for Home loan, refinancing, car & truck loan.

GST – Applying to Digital Products and Other Services Imported by Consumers

The government announced the application of the Goods and Services Tax (GST) will be extended to cross-border supplies of digital products and other services imported by Australian consumers. This includes digital products such as streaming or downloading of movies, music, apps, games, e-books as well as services such as architectural or legal services.

GET FREE Tax Refund estimate and Option of getting refund in 1 Hour, prior year Tax returns are also available, Just fill in your basic details on our website at www.taxrefundonspot.com.au or by emailing us on enquiry@taxrefundonspot.com.au we will check your employment history from ATO records, personal visit available at tax refund on spot.

We also have our separate department for Home loan, refinancing, car & truck loan.

For more information on myTax 2018, myGov 2018, Online Tax Return 2018 , HECS, Tax related or any other related matterplease contact us at 1300 768 284 or you can email us at enquiry@taxrefundonspot.com.au

GST Installments

If you elect to pay GST by installments, you pay a quarterly GST installment that ATO will work out for you and you report your genuine GST information yearly on an annual GST return.

ATO will work out the installment amount to pay based on:

  • the net GST amounts you most recently reported, generally for the past income year, depending on how long you have been registered for GST
  • a gross domestic product (GDP) adjustment.

If you think that using this amount will mean you pay more or less than the GST liability you expect for the year, you can vary it. However, penalties may apply if the total amount you paid for the year is less than you should have paid.

If you pay the installment amounts we set for you and your GST liability for the year turns out to be more than what you have paid, ATO  will  not  punish you.

For more information on Etax, myTax ATO and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au

Property Used in Running Business – Tax Refund on Spot

If you own, lease or rent property used for business purposes – whether commercial property like a shop or office, or even your own home – you:

  • must include any rental income in your tax return
  • can claim income tax deductions for various property expenses
  • will be liable for capital gains tax on any capital gain if you sell the property.

You may also have GST obligations and entitlements when you buy, sell, lease or rent commercial premises.

If you’re dealing with goods, including one-off transactions (for example, you buy, sell, lease or develop), you may be measured to be conducting an project. If your turnover from these activities is more than the GST registration turnover threshold, you may be required to register for GST.

For more information on Etax, myTax ATO and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au

Goods and Services Tax (GST) – Tax Refund On Spot

GST is a 10% consumption tax on most goods, services and other things sold in, and connected with, Australia.

What supplies are connected with Australia?

A supply of goods is connected with Australia if any of the following applies:

  • the goods are delivered or made available in Australia to the buyer
  • the goods are removed from Australia
  • the goods are brought to Australia, provided the supplier either
    • imports the goods into Australia
    • installs or assembles the goods in Australia.
  • land and buildings
  • rights over land.

A supply of real property is connected with Australia if the property is in Australia. For GST purposes, real property includes land and buildings, rights over land.

A supply of great other than goods or real property is connected with Australia if either of the following applies:

  • the thing is done in Australia
  • the supplier makes the supply through an venture – that is, a permanent establishment – that the seller carries on in Australia.

Usually, a service is supplied in either location it is performed. If the service is performed in Australia, the supply of that service is connected with Australia.

How does GST apply to exports?

Exports are generally GST-free. These include:

  • goods physically exported from Australia
  • services complete to a non-resident outside Australia.

For more information on Etax, myTax ATO and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au

Claiming GST Credit – When You Can Claim a GST Credit

You must be registered for GST to claim GST credits.

You can maintain a credit for any GST included in the price you pay for things that you use in your business. This is called a GST credit (or input-tax credit, a credit for the tax included in the price of your business inputs).

You claim GST credits in your activity statement.

You can claim GST credits if the following four conditions apply:

  • you aim to use your purchase solely or partly in carrying on your business and the purchase does not communicate to making input-taxed supplies
  • the purchase price included GST
  • you provide, or are liable to provide, payment for the item you purchased
  • You have a tax invoice from your supplier (for purchases more than $82.50).

You cannot claim a GST credit:

  • without a valid tax invoice
  • for purchases that do not have GST in the price
  • for wages you pay to staff (there is no GST on wages)
  • For motor vehicles priced above a certain limit.

Goods and services that don’t have GST in their price include:

  • GST-free items (such as basic foods)
  • Input-taxed items (such as bank fees and loan interest)
  • Purchases from a business that is not registered for GST (and therefore cannot charge GST).

When you can’t claim GST credit

You also cannot maintain GST credits for the following, even if GST is included in the price:

  • purchases you intend to use for private or domestic purposes
  • purchases you intend to use to make input-taxed supplies, such as those associated with providing residential accommodation
  • some purchases that you can’t claim as an income tax deduction, such as entertainment expenses
  • Land purchases under the margin scheme.

For more information on Etax, myTax ATO and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au

GST on Taxi Services: Tax Refund On Spot

For GST purposes, the word taxi means a car (vehicle) made offered for public hire that is used to transport passengers for fares.

State and territory laws adaptable transportation of passengers contain exact definitions of the term taxi. It is possible for a vehicle to be a taxi for GST purposes, but not for state and territory regulatory purposes.

This information clarifies how the tax laws ATO control apply to ride-sourcing.

ATO express no view concerning whether ride-sourcing vehicles are taxis within the state and territory specific definitions, or on the authority of ride-sourcing arrangements.

What is ride-sourcing?

Ride-sourcing is an ongoing arrangement where:

  • you (a driver) make a car available for public hire
  • a passenger uses, for example, a website or smart phone app provided by a third party (facilitator) to request a ride
  • you use the car to transport the passenger for payment (a fare) with a view to profit.

Ride-sourcing arrangements can be enabled by a skill platform maintained by a third-party facilitator. Typically, a website or mobile device purpose is used to make easy a transaction between a driver and a passenger.

This may not be applicable if:

  • non-commercial car-pooling arrangements where passengers contribute petrol money or other planning where there is no view to profit
  • car sharing arrangements where multiple users have way in to a car which they use to drive themselves from one location to another
  • arrangements that use vehicles other than cars, for example motorized tricycles
  • arrangements where a car is used only to transfer passengers for a particular purpose, for example a wedding or a funeral procession, and which is not made available more generally to ship members of the public from one place to another.

For more information on Etax, myTax ATO and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au

GST Charity Tax: Goods and Services Tax

Goods and services tax (GST) is a broad-based tax of 10% on the majority goods, services and other items sold or consumed in Australia..

Generally, businesses and other organizations registered for GST will:

  • include GST in the cost they charge for their goods and services
  • claim credits for the GST included in the price of goods and services they buy for their business.

What you need to do for GST

If you run a business or other enterprise and have a GST turnover of $75,000 or more ($150,000 or more for non-profit organizations) or you provide taxi travel – you need to:

  • register for GST
  • work out whether your sales are taxable (that is, subject to GST, and not exempted because they are GST-free or input-taxed) and include GST in the price of your taxable sales
  • issue tax invoices for your taxable sales and obtain tax invoices for your business purchases
  • claim GST credits for GST included in the price of your business purchases
  • account for GST on either a cash or non-cash basis and put aside the GST you have collect so you can pay it to us when due
  • lodge activity statements or annual returns to account your sales and purchases, and pay GST to us or accept a GST refund.

You must register for GST if:

  • your business or enterprise has a GST turnover (gross income minus GST) of $75 000 or more
  • your non-profit organization has a GST turnover of $150 000 per year or more
  • you provide taxi or limousine travel for passengers in exchange for a fare as part of your business, regardless of your GST turnover – this applies to both landlord drivers and if you lease or rent a taxi
  • you want to maintain fuel tax credits for your business or enterprise.

If your business or enterprise doesn’t fit into one of the above categories, registering for GST is possible However, if you choose to register, you usually must stay registered for at least 12 months.

For more information on Etax, Mytax and online tax return, please contact us at 1300768284 or you can email us at enquiry@taxrefundonspot.com.au