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First the bad News...
When the Goods and Services Tax (GST) was introduced, the world for taxi drivers changed forever. Drivers now have to pay this tax, in addition to their income tax. This is a hefty tax increase, which has become a burden to most drivers.
In addition, taxi drivers have become unpaid GST-collectors for the Australian Taxation Office (ATO). They have to pay the associated accounting costs out of their own pocket. This has increased their costs even further reducing their net income.
Because the GST has revolutionized the tax system through the introduction of the ABN, which drivers must now have, the ATO has become very powerful in matching the income statement between the owners and drivers. Hence drivers who understate their income get caught easily and are likely to pay the unpleasant consequences.
And now the good News...
The Taxi Accountant software for drivers has been designed to help reduce the GST, income taxes and reduce or even eliminate the associated Accounting costs.
It has been designed by cabbies for cabbies, with the awareness that many have limited time and skill on the computer. If the owner sends the data to the driver, keyboard skills are not even required at all.
It also facilitates the display of shift rosters from the owners on their computer at home, to find available shifts more easily.
So read on the good news...
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