![]() If you’re GST-registered, to claim the GST on your car expenses on your BAS you just need to make a reasonable estimate of your business use percentage, a logbook isn’t required. Note that a logbook isn’t required for BAS’s, only for tax returns. But if you want to play it safe I recommend at least keeping a rough four-week diary to show the ATO how you made your estimate. Instead you are allowed to make a reasonable estimate of your business use percentage. Bicycles, Scooters and MotorbikesĪ formal 12-week logbook is not required for scooters and bikes. If you’d like more detail on claiming tax deductions for Uber, rideshare or food delivery, including what records you must keep in order to claim, you’ll find some useful links at the end of this post. Here’s a simplified example of how this works: Once you’ve totalled up these car expenses for the year you’ll multiply them by your logbook percentage to get your final car tax deduction. Depreciation, Instant Asset Write-Off or Full Expensing.Here are the car deductions you’ll be able to claim for Uber, rideshare and food delivery: You can then claim a tax deduction for all your car’s running expenses multiplied by that percentage. Once you have kept your 12-week logbook, it will show exactly what percentage you use your car for business vs private/other use. What Tax Deductions Can You Claim With A Logbook? This is why a logbook is important, because it will usually give you a bigger tax deduction so you pay less tax. Instead you can only claim a cents per kilometre deduction, which is usually a smaller tax deduction. If you don’t have a valid logbook then you cannot claim tax deductions for your actual car expenses. ![]() This is because the ATO still need evidence that your car is actually 100%, they cannot just take your word for it. These rules apply even if you use your car 100% for business. You can then claim that percentage of your Uber car expenses. If you want to claim a tax deduction for your car expenses, the ATO’s rules state that you MUST have a logbook as evidence of the percentage that you use your car for business vs private use. ![]() ![]() Keeping A Logbook For Uber What Is A Logbook?Ī logbook is a record of your car’s odometer readings kept over a continuous 12-week period. > Get The FREE DriveTax Logbook & Expense Spreadsheet > How To Calculate Your Logbook Percentage We’ll look at why you need an Uber logbook and what happens if you don’t have one, how to keep a logbook for Uber, which trips you can and can’t include, and some quick tips to maximise your logbook percentage to get the highest tax deduction possible. So in this article, I’ll explain everything you need to know about keeping a logbook for Uber to get the maximum possible tax deduction for your car expenses. Instead you’ll be stuck with the ‘cents per kilometre’ method, which for most drivers will mean much lower tax deduction and therefore a higher tax bill. You also won’t be able to claim the Instant Asset Write Off or Full Expensing unless you have a logbook. If you don’t have a valid Uber logbook the ATO will not allow you to claim car deductions for your fuel, insurance, registration or any of your other car expenses. I would start by sharing some screen shots of what you already are doing, no matter how bad it looks it tells a lot about the way you want to track things.If you want to claim a tax deduction for your car expenses, you MUST keep a 12-week logbook of your Uber, rideshare or food delivery driving. In terms of excel - happy to help but every file is a totally custom experience tailored to do what you need it to do, my file would be useless to you because it has my lifeprint on it, you need a custom page for what you want out of it. One item I would make sure you are doing is setting aside your federal tax dollars and planning to make a quarterly estimated tax payment - you have to do this to avoid fines as a rule. The mileage rates are probably the way you should start out. At year end Uber will give you a 1099K form and I personally claim mileage rather than trying to track how much I spent on water and gum. Your question has to do with withholding and there are a ton of good reports on your Uber Driver profile that track everything you need to keep track of for your taxes. LOL I live and die in excel - and I tend to obsess over my expenses / intake and always trying to find the high-profit areas.
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