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Counting Edge Accountants is a Western Sydney based boutique accounting firm. Our primary focus is to help businesses and individuals build a financially stronger future.
More Information on
Counting Edge Accountants is a Western Sydney based boutique accounting firm. Our primary focus is to help businesses and individuals build a financially stronger future.
We can book a no obligation and free appointment, where we will be consulting about our business needs and advice you the right accounting package that is tailored made for your business. Once we agree to our terms of engagement then you can inform your previous accountant about the switch or advise us to act on your behalf.
Your previous accountant will handover your financial details and all the paperwork to us and we will take care of it from there onwards.
Over the past few years, Uber has taken Australia by storm as a new, unique and flexible way of earning additional income for almost every one with a good car. As an Uber driver, the ATO sees you as self-employed – that means you’re not an employee of Uber, you’re a independent contractor. It’s important to remember that when you’re not an employee, Uber has no obligation to manage your tax affairs, you’re running your own business and you have to take care of your tax affairs by yourself.
The Australian Taxation Office (ATO) is very clear about this:
• Any money you earn from driving for Uber is your income – that means you must declare it on your Tax Return and pay tax on it every year.
• As a Uber driver you must register for GST then start to lodge a Business Activity Statement (BAS) quarterly, even if you earn less than the $75,000 GST income threshold – you may have to pay GST payable quarterly.
We know when it comes to taxes, it is stress and headache, so contact us now to get your tax affairs managed properly and correctly
The ATO automatically triggers a quarterly PAYG instalment plan for you to pay tax in advance for the future upcoming financial year, generally due to the income you earned from a previous financial year from sources such as rental property, business income, interest, dividends and distributions from trust/partnership over a certain net amount.