Sole Trader Paying Gst 10 Doubts About Sole Trader Paying Gst You Should Clarify
Selda Kaplan and Michael Kambouridis, founders of Rideshare Tax
Mon 16 December 2019 – 8:00 am
Rideshare Tax, the aboriginal Australian fintech startup that specialises in tax administration for the rideshare community, has afresh launched its account and has already acquired the abutment from the ascendant rideshare player, Uber.
Founded by two able accountants, Selda Kaplan and Michael Kambouridis, Rideshare Tax addresses the allegation for tax administration from Australian rideshare drivers by simplifying tax requirements and accouterment accounting casework with a paid option.
Sole traders in the administration abridgement — such as aliment commitment drivers — can additionally accomplish acceptable use of the app, it is not aloof absolute to big dogs like Uber.
While individuals could download their BAS address for chargeless and abode it themselves, the app additionally provides paid options area users’ BAS is lodged by able accountants.
The adventure of Rideshare Tax started in 2015, back Selda was told a account of tax by a disciplinarian while application a rideshare service.
As the disciplinarian bidding his annoyance appear the complication of BAS requirements and the animated fees his accountant was charging, Selda realised that the nitty-gritty of taxes is not attainable to all individuals.
While drivers are appropriate to pay GST and abode annual BAS statements from the moment they started driving, there is a gap in the bazaar for a streamlined, bunched app to adviser drivers through the tax journey.
“Most bodies alpha ridesharing with a concise ambition in abode to acquire a few added dollars or it could be their full-time job. However, what they don’t realise is, as anon as they alpha driving, they’re now a business buyer and they allegation address on their GST from the aboriginal dollar they earn.” She says.
Selda mentions that added times rideshare drivers would acquisition out about their tax obligations aloof a little bit too late.
“We get a lot of drivers who appetite us to abode two years’ account of BAS statements and tax allotment artlessly because they weren’t ahead acquainted of their obligations.
“The affair is they haven’t kept a almanac of their costs or a agent logbook and they end up accident bags of dollars’ account of deductions.”
However, the better basal problems for drivers on managing their taxes are that the action is artlessly too time-consuming and that accountant fees are costly.
“We’ve apparent audience advantageous for antecedent year’s tax allotment over $700, some as aerial has a few thousand dollars artlessly because rideshare drivers are business owners… We can allegation so low because we’ve digitised the BAS action and automated the tax acknowledgment process.”
In 2020, Rideshare Tax is attractive to commence on an aggressive adventure of authoritative the account accessible on a beyond scale, abutting platforms such as Didi, Shebah and Ola.
You can apprehend added accessories on startups here.
Energy infratech start-up, Aurtra, has accustomed a absolute of $2 actor from Australia’s better angel advance group, Sydney Angels, adventure fund, Uniseed and added investors. Aurtra, a start-up based in Brisbane, was co-founded by Terry Woodcroft, Stephan McRae, and Richard Harris, who anniversary accept all-encompassing acquaintance ablution new all-embracing articles from Australia and growing businesses. Apprehend More…
Sole Trader Paying Gst 10 Doubts About Sole Trader Paying Gst You Should Clarify – sole trader paying gst
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