NSW Taxi Council is an active member of the Australian Taxi Industry Association (ATIA)
The ATIA has recently provided an update to NSW Taxi Council to critically understand the support available and measures taken by the Australian Government to support the Taxi Drivers, Operators and Licence Owners of NSW Taxi Industry, whose businesses and income are significantly impacted by COVID-19.
Taxi Industry Members Who Are Sole Traders
For the purposes of the Australian Government’s measures to support businesses impacted by the coronavirus (COVID-19), the Australian Taxi Industry Association (ATIA) considers that the benefits available tosole tradersshould be available to:
taxi drivers whose businesses comprise plying a taxi for hire that they bail (i.e. as a bailee driver), lease or own;
taxi operators whose businesses comprise bailing or leasing taxis to self-employed taxi drivers;
taxi licence owners who businesses comprise leasing taxi licences to taxi operators.
Definition of Sole Traders
To determine whether you're a sole trader, please refer to the ATO’s definition.
The ATO considers you a sole trader if you:
use your individual tax file number when lodging your income tax return;
report all your income in your individual tax return, using the section for business items to show your business income and expenses (there is no separate business tax return for sole traders);
use your ABN for all your business dealings;
are registered for Goods and Services Tax (GST);
pay tax at the same income tax rates as individual taxpayers;
may claim a deduction for any personal super contributions you make after notifying your fund.
Government Support for Sole Traders
If you're a sole trader you are eligible for:
Jobkeeper Payment for Sole Traders
Given the current economic conditions, taxi drivers, operators and owners who are sole tradersare likely to meet the eligibility requirement of their turnover having reduced by more than 30 per cent relative to a comparable period a year ago (of at least a month). Following registration with the ATO, the Government will provide $1,500 per fortnight per eligible employee, or for the sole trader in the case of no employees, for a maximum of 6 months.
For more information, click JobKeeper Payment for sole traders.