If I am making for example $100 a day after paying Uber fees, How much tax shall I be paying for this?
If the commission is 20%, the total fare would be $125.
You should calculate the GST as 1/11th of $125 which is $11.36.
You will also have to pay income tax on your earnings. Your assessable income is the fare less the GST amount, which is $113.64 ($125-$11.36).
You can claim the $25 commission as a deduction in your income tax return.To avoid a large income tax bill at year-end, you can voluntarily enter the pay as you go instalment system and pay tax throughout the year. More details can be found at: https://www.ato.gov.au/general/payg-instalments/how-to-start-paying-instalments/
What are all expenses that can be claimed by an Uber driver?
You can claim a GST credit for any GST included in the price of goods and services you buy for your business.Examples includeyour car, fuel, lollies, servicing and your smartphone / data usage.
You can also claim an income tax deduction for these expenses.
If your purchase is used for both business and private use, you can only claim a GST credit or an income tax deduction for the part of the purchase relating to your business use. For example if you use your car 50% for your business you can claim 50% of the GST on the fuel and other car-related expenses and 50% of the GST-exclusive cost as an income tax deduction.You need to keep records of the income and expenses and of how you apportioned for private use.