Taxi Industry Update

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 to sole traders should 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:

Tax Support
The ATO is providing relief for some tax obligations for businesses affected by the outbreak, on a case-by-case basis. Contact the ATO’s Emergency Support Infoline for businesses on 1800 806 218 for more information or to request this help.

Bank Finance Support
The Australian Banking Association has announced that Australian banks will defer loan repayments for small businesses affected by COVID-19 for 3 months. 

For more information, click Australian Banking Association.

Mental Health and Well-being

Looking after your mental health is important during difficult times, such as the one currently confronting taxi industry members. If you are feeling anxious about COVID-19 there are positive steps you can and should take to get help.

Contacts for mental health and wellbeing include:

Disclaimer: While ATIA has used its best endeavours to source the most accurate information available for this Taxi Industry Update, readers are advised to contact the respective providers of assistance (e.g. using the links provided) to confirm their eligibility for, and the availability of, the respective assistances noted in it.