How do you file taxes with Uber Canada? Do Uber drivers pay income tax in Canada? Does Uber report income to CRA? During this tax season, get all my latest Tax Tips for Uber and Lyft Drivers in Canada. Download my T2125 Statement of Professional and Business Activities Income / Expense Tracker: https://bit.ly/3KLTjge

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0:00 Do Uber Drivers Pay Taxes?
3:18 What do you Need to File Taxes?
4:24 What Expenses Can Uber Lyft Drivers Claim?
13:02 Do you need to Charge and Claim HST / GST?

Driving for Uber or Lyft is one of the most flexible jobs in Canada. Whether it’s your full time job, part-time gig, or an occasional source of side income, the rules around taxes for rideshare income are quite specific. Here are the (tax) rules of the road.

If you work for a ridesharing app like Uber and Lyft, all your earnings are taxable, and it’s recommended you put 25% of your income aside for the taxman. To report your income to the Canada Revenue Agency (CRA), complete and submit Form T2125 – Statement of Business or Professional Activities along with your tax return.

Driving for a rideshare app requires you have a GST/HST number from Day One. The Canada Revenue Agency (CRA) looks at being a ‘courier’ for a food delivery app and being a ‘driver’ for a ride sharing app as two different business activities, so the tax reporting requirements differ for each.

When you’re a driver for a ridesharing company, you’re considered an independent contractor, not an employee, of the company. This means the company doesn’t withhold taxes from your income on your behalf and means you’ll need to report money you make from rideshare driving as self-employment income.

Being a driver for a rideshare app has different tax implications than being a courier for a food delivery service. Understanding the difference upfront can help reduce headaches and penalties at tax time.

Disclaimer: This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video, please, always do your own due diligence! The description of this video includes Affiliate links (I get paid at no cost to you for trying out a particular service.) #taxesinseconds #ubertaxi #Canadataxes