Yes, and it doesn’t matter how often you drive a taxi. If you drive a taxi, then you must register for goods and services tax (GST).
However if the driver is an employee, then the driver must not register for GST. The driver is an employee when the driver is not entitled to keep any of the takings and is paid a set amount to drive the taxi. In these limited circumstances, the employer is considered to be the person providing taxi travel and must register for GST.
Confused? Don’t be. At MAS Tax Accountants our qualified Accountants keep up to date with changes to the legislation and tax laws relevant our clients in the Taxi and Luxury Hire Car Industries. Thereby, ensuring we are always going to be able to help take the confusion out of running your business and provide assistance with all of your taxation needs.
Your taxation obligations depend solely on whether you are an Owner/Operator of the Taxi or Luxury Hire Car (e.g. Limousine), are a Driver under a bailment agreement or a wage earning employee.
Our accountants can assist with making sure the correct information; relevant to your position, is submitted to the ATO.
We can help you with:
- Activity statements for each quarterly or monthly tax period
- Determining your PAYG and GST obligations
- Maintaining a Taxi driver takings and expenses worksheet
- Completing the Australian Business Number (ABN)/GST registration form – for new Taxi Drivers
Regardless of whether you are an Owner/Operator, under a bailment arrangement or an employee, we can make sure you claim every deduction available to you, so that you always get the biggest refund possible!
For an appointment, or a confidential discussion of your needs, please contact our Tax Accountants today, or call 1300 627 829.
