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What are the most popular rideshare service platforms in New Zealand?

As you may know, Uber introduced peer-to-peer ridesharing service in the early 2010s and stepped into the New Zealand market in 2014. Now, there are three major players in the market include Ola and Zoomy.

How much can a driver earn?

This is based on average earnings (after the service provider fee deduction) of approx $25-$30 per hour. Part-time drivers who only work Friday and Saturday nights into the early hours of the morning can sometimes earn well over $30 an hour.

What kind of expenses can Uber drivers claim for tax purpose?

Daily operation costs such as fuel cost, cell phone service, liability insurance, drink and snack for passengers and depreciation cost, which will be anywhere from approx 25-50% of earnings depending on individual circumstances. Any other expenses may relate to the business can be tax-deductible, such as accounting service fee if you appoint an accountant to work on your accounts.

Do Uber drivers need to register GST?

Not necessarily according to IRD regulations as per the middle of 2019. However, if your turnover was $60,000 or more in the last 12 months or will be $60,000 or more in the next 12 months, yes, you will be required to register for GST and build GST into your price.

Keep us in your mind when you need assistance on numbers and tax.

 

 

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