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uber driver hst taxes

Do Uber Drivers need to file HST ?

Do Uber drivers need to file HST return?
The answer according to CRA, is yes. If you operate a taxi or limousine service, which includes Uber you must register for HST regardless of your revenue. There no $30,000 cut of limit which is applicable for other businesses, which means even if you earn $1,000 this year in Uber earnings you are required to register for HST account and file a HST return.

Does that mean I lose 13% from my earnings?

Not exactly, there is some good news. When you go to file you HST return you can claim ITC (input tax credit) to reduce your tax liability. The tax you paid on operating expenses like; gas, vehicle maintenance, cell phone, car lease payments..etc. These credits can be used to reduce your HST liability. The key here is to keep track of all your expenses.  Track all you expenses and earnings on an excel file and keep all your receipts. Good recording keeping will come in handy when you prepare to file your taxes and can save you hundreds of dollars.

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