How to become a Rideshare Driver

For those looking for a flexible side gig, becoming a rideshare driver is an easy, low fuss way to run your own business. The process of becoming a rideshare driver in Australia is straightforward and can be completed quickly. There is also huge demand for more drivers, so you are likely to get plenty of work. In this blog post, we will look at the steps you need to take to become a rideshare driver in Australia.

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‍Step 1: Sign up with a rideshare provider

The first step to becoming a rideshare driver is signing up with an approved provider such as Uber or Ola. To sign up, you will need to provide your personal details, proof of identity, and proof of residence. You will also need to submit documents that prove that your car is registered and insured. It’s important to note that each provider has different requirements so make sure you check their website before signing up.

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‍Step 2: Get your vehicle road tested

Once you have signed up with an approved provider, the next step is getting your vehicle inspected. The rideshare company will inspect your car for roadworthiness and make sure it meets all relevant safety standards set by the government. This inspection costs around $30-$50 depending on where you are located.

Step 3: Get car insurance

You must have a valid insurance policy before you can begin driving for Uber or Ola in Australia so make sure this is taken care of before you get started. Most providers require comprehensive insurance but check with your provider for specific requirements as they may vary from state to state. Additionally, some providers offer discounted insurance policies specifically tailored for rideshare drivers so it’s worth looking into these options as well.

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‍Step 4: Register for an ABN and GST

Once you have taken care of all the paperwork and legalities involved in becoming a rideshare driver, it’s time to register your business. To do this, you’ll need to register for an ABN. All rideshare drivers are mandated to register for GST before they can start picking up drivers. Whilst normally you need to be earning over $75,000 a year to register for GST, there is an exception for those doing gig work as a rideshare driver.

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‍Step 5: Download the app and take rides

Now that you have everything you need, you can download the Uber or Ola app and create an account. You must be at least 21 years of age, and you’ll need an iPhone or Android device to use the app. Setting up a profile only takes a few minutes, and you’ll need your ABN and driver licence details handy to complete the registration. Once your account is approved, you can then commence taking rides.

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Step 6: Claim eligible tax deductions

As a rideshare driver you will be able to claim deductions for the costs of operating your rideshare vehicle. You can make deductions for expenses such as fuel, repairs, maintenance, and insurance. Thriday can automatically confirm your eligible deductions through its propriety automated bookkeeping functionality. As soon as you spend money, Thriday will determine what type of expense it is, if GST was applied, and if you are eligible for a deduction. Find out if you need a bookkeeper, accountant, or if Thriday can handle all your taxes, by taking this quick tax quiz.

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Becoming a rideshare driver is a great gig for those that have a car, enjoy flexibility and don’t want a business that is too stressful to run.  Before you start, make sure you know what steps need to be taken and understand any relevant regulations governing the industry With just the five simple steps listed above, you’ll be ready to start driving passengers around in no time.