The ATO has reminded ride-sourcing drivers of the importance of meeting their tax obligations — to get an Australian Business Number and register for GST as soon as they start driving, and to include the income in their tax returns.
The ATO says it is getting data from financial institutions and directly from facilitators, so it knows who the ride-sourcing drivers are, and whether they are meeting their tax obligations.
Around 120,000 ride-sourcing drivers have been contacted by the ATO over the last 18 months to advise them of their tax obligations. Drivers who don’t apply for an ABN and register for GST for their ride-sourcing enterprise will be registered for GST by the ATO, this will be backdated to the date of their first ride-sourcing payment.