How Uber Drivers Pay Less HST in Canada - Explained By Accountant
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- Опубліковано 23 тра 2024
- File your Uber/UberEats driver tax return for just $80 with Uber tax specialist. Limited spots available! Click here to secure yours: instaccountant.com/uber-drive...
A lot of Uber, Lyft, Uber eats, DoorDash, Skip drivers and self-employed professionals ask me this question; how can we not pay too much HST. In this video I have explained why HST becomes an issue, and how can Uber drivers and self-employed people save HST. I tried to keep it simple and easy to understand. Subscribe and like this video. Let us know of your feedback or questions in the comments. Keep delivering happiness :)
0:00 Introduction
0:28 How can we save HST
1:20 How Uber works on HST
2:40 What is balanced amount
3:29 Expenses for claiming HST credits
6:05 Why save the receipts?
6:45 Remember the last thing
Zoombooks is the best expense tracking and bookkeeping app for rideshare and delivery drivers. Whether you work for Uber, Lyft, DoorDash, or any other platform, you can easily manage your finances with Zoombooks. You can scan your receipts, track your expenses, record your tips, and generate reports for tax purposes. Zoombooks helps you save time and money, and optimize your earnings. Download Zoombooks for free today and see why thousands of drivers trust us with their accounting needs. linktr.ee/zoombooks.app
► Other videos about taxes for rideshare and delivery drivers that might interest you:
Tax Deductions for Rideshare (Uber, Lyft, Uride) Drivers • How to Refile Your Ube...
Tax Guidelines for Uber Eats Delivery Drivers in Canada • ACCOUNTANT EXPLAINS: H...
Filing HST Return for Uber Eats, DoorDash or Delivery Drivers • How To File HST For Ub...
If you want to learn more, you can check out these blogs:
✅ Leasing vs Buying a Car for Tax Deductions instaccountant.com/canada-fin...
✅ Benefits of Refiling Your Uber Tax Return instaccountant.com/rideshare-...
Share this video with fellow Uber, Lyft and other rideshare drivers and help them save money on their taxes too.
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Connect with Murtaza Bhatti for a Free Consultation:
📞 Phone: +1 647-243-2884
📧 Email: info@instaccountant.com
🌐 Tax Services: instaccountant.com/income-tax...
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About the Publisher:
Hello, I'm Murtaza Bhatti, an expert accountant in Toronto, Canada. I have a lot of experience in helping people with their taxes, especially if they work for Uber, Lyft, UberEats, DoorDash or other rideshare and delivery services. I'm here to share share some useful advice and tips on how to save money and avoid trouble with the Canadian tax system. Don't miss this opportunity to get expert guidance from a Canadian accountant who understands the challenges and opportunities of the gig economy.
Disclaimer:
This video is for educational purposes only and does not constitute financial, investment, tax, or legal advice. Always consult a professional for personalized guidance tailored to your specific circumstances.
File your 2023 Uber/UberEats tax return for only $80! Limited spots available! Book now at instaccountant.com/uber-driver-tax-return-canada-2023-offer/
How much if i want to verify my uber drive tax 2023 please?
@@lifeincanada7473Contact on +1 647-243-2884 please.
V well explained thnx for sharing sch an amaizing video
Thanks for your appreciation as well.
this is amazing thanks for the info ❤
Thanks for the encouragement dear.
Your explanation is Awesome 👍
Thank you soo much for your appreciation.
thanks 4 sharing
Thank you too
Very nice information
Thank you for your value able feedback.
Very well thamk to share it ☺☺
Thank you too! Please subscribe
Nice job
Thanks
Hello, can you do a video on how to do CCA on car and how to take gst from it please?
Of course! I'll make a video on car CCA and GST soon. Subscribe and stay tuned!
@@instaccountant I’m very excited to see this is coming along. I’m subscribed!
Best of luck
Thanks
Hi I bought a car for Uber. Can I claim Hst paid on car around $4000 in ITC? Thanks 🙏
Most of your videos are theory and explination. Can you make practical video on a computer? Thanks alot
Sure, I'll prioritize making practical computer tutorials soon. Stay tuned for updates!
good
Thanks
Thanks for your video. I have two questions; Should I include the Gst/Hst as part of my income? Do I have to deduct the uber service fee( or any other deductions) when reporting my income since these deductions did not include the amounts uber paid to me. Thanks
Gst/Hst is not a part of your income. You should deduct the Uber service fee as an expense, instead of deducting it directly from the income. This will have the same effect, but thats proper presentation of income.
Thank you
Hey Murtaza! If I start ride share only this month, but have only done Uber eats since beginning of this year, and I buy a new car in October - does this mean I have almost no HST ITC to claim back? Or do just the HST I pay on finance payments in the car in the calendar year count?
You can claim HST, need to be worked upon in detail.
Thx for sharing valuable content. My question is related with Instacart. How can I pay HST if I can’t see any deductions on my payments or cash out? I mean how can I fulfill the correct amount of HST for example in CAD50,000 in revenues during the year?
Thx a lot in advance
If you are making over 30000, you need to register for HST. You are expected take care of HST, calculate the HST collected and remit to CRA, and file the return.
Thanks for sharing... I have a 2017 Honda Civic, that I own (bought brand new and now paid off). I have already claimed the depreciation on the car, when it was used as a taxi. Now, It's no longer a Taxi and I'm going to instead use it as an Uber vehicle. Can I charge depreciation on it. If so, how much?
You can charge the depreciation on the current value when you started Uber.
Hi! Should I be saving fuel and maintanence expenses receipts too?
Yes, receipts serve as documentation to support your deductible expenses when filing your taxes.
You can use the Zoombooks app to scan and save your expense receipts.
Hello,
If in the summary if they specify HST Paid to uber, Do I need to deduct that amount too?
That will be used in HST tax return as ITC.
Hi, 2 Questions:
1- Do We have to remit the HST if the rideshare income is less than 30K?
2- Do we have to remit HST if the overall self-employed income (from rideshare, after factoring the CCA of your car) is a loss?
Thanks in advance.
Yes, you have to file HST return in any case if you are doing rideshare. Secondly, if you need to remit HST or not, depends on your HST output and inputs.
If the Uber ride sharing income under 30000$ do I have to pay tax ?
Yes, you have to file HST return in any case if you are doing rideshare. @@jwkk28
hi,do i deduct hst on the total of service fee or onthe total of hst i paid to uber or both ,can u clear where i do the deduction.thanks
Yes, you should deduct HST paid to Uber for its service.
@@instaccountant so If service fee is $5.00 I deduct HST paid on that $5.00? So 5.00 / 1.13 is what I deduct from total due HST?
@@hassu2149 Yes that's right
Hello sir
Uber se ek link aaya hu aa hai new id pe 70trip 23,000 rupees de rah h
Is it true that if you earn less then 30000$ you don’t have to pay any hst as an uber driver🙏🏻🙏🏻
Uber rideshare drivers must register for GST/HST within 30 days of their first ride. For UberEats, registration is required once earnings exceed $30,000, according to the CRA.