Can I claim GST/HST Input Tax Credits (ITCs) on Uber, taxi, or limousine fares?
The Canada Revenue Agency describes in detail here what information businesses must generally include on their invoices so that GST/HST registrants can claim Input Tax Credits (ITCs) for the expenses. Quote: Sales invoices for GST/HST registrants You have to give customers who are GST/HST registrants specific   information on the invoices, receipts, contracts, or other business   papers that you use when you provide taxable goods and services. This   information lets them support their claims for input tax credits   (ITCs) or rebates for the GST/HST you charged. [...] The page quoted continues with a table describing what, specifically, needs to be on a sales invoice based on the total amount of the invoice; the requirements differ for: total sale under $30, total sale between $30 to $149.99, and total sale $150 or more. For the total sale under $30 category, the only things a sales invoice must contain to support an ITC claim are (1) the provider's business name, (2) the invoice date, and (3) the total amount paid/payable. i.e. When the total sale is under $30, there is no requirement for any GST/HST amount to be indicated separately, nor for a business number to be present on the invoice. Hence, IMHO (and I am neither an accountant nor a lawyer), if your Uber rides are for $30 or less, then you shouldn't expect a GST/HST number anyway, and a simple invoice as described should be enough for you to claim your ITCs. Whether or not the provider is registered in fact for GST/HST is beside the point. For amounts over $30, you need a bit more. While the page above specifies that the provider's business number should be included beginning with the next level of total sales,  there are exceptions to those rules described at another page mentioned, Exceptions to invoice requirements, that specifically apply to the taxi/limousine case. Quote: Exceptions to invoice requirements GST/HST registrants are required to keep the necessary documentation   to support their claim for ITCs and rebates. In certain circumstances   the documentation requirements have been reduced. [...] For taxi or limousine fares your books and records must show: So at a minimum, for fare in excess of $30 total, you should ask the driver to note either (a) the amount of GST/HST charged, or (b) a statement that the fare includes GST/HST. The driver's business number need not be specified. Consequently, if your receipt for a ride in excess of $30 does not contain any such additional information with respect to GST/HST, then I would expect the receipt does not satisfy the CRA's requirements for supporting your ITC claim. i.e. Keep your individual rides under $30 each, or else get a better receipt from the driver when it is above that amount. p.s. It should go without saying, but your rides, of course, must be considered reasonable business expenses in order to qualify for GST/HST ITCs for your business. Receipts for rides of a personal nature are not eligible, so be sure to maintain proper records as to the business purpose and destination for each ride receipt so claimed. Apparently Canadians have not been paying any tax on Uber rides, and will only begin to do so on July 1, 2017. Source: http://mobilesyrup.com/2017/03/22/uber-canada-gst-hst-budget-2017/
The best way to do this is to pay for the entire car, including gas, insurance, and repairs, from S-corp funds, then meticulously track how many miles are used for personal and how many miles for business. If you pay with S-corp funds, you will claim the personal miles as a taxable benefit from the S-corp on your personal return. The S-corp can then claim all the expenses and depreciation on the vehicle, reducing the S-corp's tax liability. "Yes, they are.  Ridesharing is just a term for Unmarked taxi booked through app.      I have no issue with that, since ""Government regulated taxi"" is so awful in almost every city on earth, that ridesharing has improved safety and convenience." "Reimbursements for business expenses are generally not taxable, but the commute from home to the job and back is not considered business travel and if they're paying for that it is taxable income. I don't think carpooling changes that, but I am not a tax lawyer or accountant. The rest of your questions seem to be company policy issues. There is no ""should"" here. You aren't required to pick up the other guys, but he isn't required to reimburse those miles (or employ you) so think carefully about your priorities before pushing back. Never invoke what thou canst not banish." I really appreciate the long response! You clearly have more knowledge than me in regards to the finance end of the business. That said, is there so much money/debt tied up in taxi licenses and medallions that it would create even a mini financial market crash?  If so, how would we (investors) profit from the situation? "I've been in a very similar situation to yours in the past.  Since the company is reimbursing you at a flat rate (I assume you don't need to provide documentation/receipts in order to be paid the per diem), it's not directly connected to the $90 in expenses that you mention.  Unless they were taking taxes out that would need to be reimbursed, the separate category for Assets:Reimbursable:Gotham City serves no real purpose, other than to categorize the expenses. Since there is no direct relationship between your expenses and the reimbursement, I would list them as completely separate transactions: Later, if you needed to locate all of the associated expenses with the Gotham trip, gnucash lets you search on memo text for ""Gotham"" and will display all of the related transactions.  This is a lot cleaner than having to determine what piece of the per diem goes to which expenses, or having to create a new Asset account every time you go on a trip." One important thing though, while the experience is generally 90% the same to the rider, drivers may have vastly different experiences with the two companies. As long as there are fares to pick up drivers will probably still drive for a service, but that is another, secondary demographic of users that ride sharing companies need to consider/support/keep happy. And that side of things can have a *hugely* varying user experiences based on how the companies operate. "It looks like the HST will be in effect in Ontario on July 1st, 2010.   As to whether it will replace GST with HST for all services, it looks like some sectors may get special treatment: Ontario may exempt mutual funds from HST (National Post).  But it doesn't look final yet. However, I would suggest that most service-based businesses in Ontario need to prepare to start charging 13% HST instead of 5% GST.  It will be the law. On the ""goods"" side of the new harmonized tax, it looks like certain goods will still be exempt from the provincial portion.  Here's a quote from the Ontario Budget 2009 News Release: ""Books, diapers, children's clothing   and footwear, children's car seats and   car booster seats, and feminine   hygiene products would be exempt from   the provincial portion of the single   sales tax."" Here's some additional information on the introduction of the HST, from the province: General Transitional Rules for Ontario HST. And finally, another interesting article from the Ottawa Business Journal: Preparing For Ontario Sales Tax Harmonization – It's Not Too Early  UPDATE: I just received an insert from Canada Revenue Agency included with my quarterly GST statement.  Titled ""Harmonization of the Sales Tax in Ontario and British Columbia"", it contains a section titled ""What this means for you"" (as in, you the business owner).  Here's an excerpt: [...] All Ontario and B.C. registrants would need to update their accounting   and point-of-sale systems to   accomodate the change in rate and new   point-of-sale rebates for the   implementation date of July 1, 2010. The harmonization of the sales tax in Ontario and B.C. may affect the   filing requirements of registrants   outside of these two provinces. Registrants will report their HST according to their current GST filing   frequency. As a result of the harmonization, there will be changes to the rebates   for housing and public service bodies. More information will be released as   it becomes available. Visit the CRA   web site often, at   www.cra.gc.ca/harmonization, for   the most up-to-date information on the   harmonization of the sales tax and how   it may affect you. [...] Last, I found some very detailed information on the HST here: NOTICE247 - Harmonized Sales Tax for Ontario and British Columbia - Questions and Answers on General Transitional Rules for Personal Property and Services.  Chances are anything you want to know is in there." I am an Israeli based citizen who represents and Indian company who sells its products in Israel. As an agent I am entitled to commission on sales on behalf the Indian company who advised that. Any commission paid to you will be applicable to TDS at 20.9% of the commission amount, the tax will be paid and a Tax paid certificate will be given to you.   According to a Bilateral Double tax avoidance treaty if the tax has been deducted in India you will get credit for this tax in Israel. Hourly rate is not the determinant.  You could be selling widgets, not hours. Rather, there's a $30,000 annual revenue threshold for GST/HST. If your business's annual revenues fall below that amount, you don't need to register for GST/HST and in such case you don't charge your clients the tax. You could still choose to register for GST/HST if your revenues are below the threshold, in which case you must charge your clients the tax. Some businesses voluntarily enroll for GST/HST, even when below the threshold, so they can claim input tax credits. If your annual revenues exceed $30,000, you must register for GST/HST and you must charge your clients the tax.  FWIW, certain kinds of supplies are exempt, but the kind of services you'd be offering as an independent contractor in Canada aren't likely to be. There's more to the GST/HST than this, so be sure to talk to a tax accountant. References: Assuming you have registered your activities as partnership and receiving this money as Individual, you need to show this under Schedule OS, 1d [other income]. this will be under the ITR-2 [tab CG-OS] XLS tax preparation utility given by Tax Department. The XLS can be found at https://incometaxindiaefiling.gov.in/portal/individual_huf.do If the funds you are receiving are large [more than say Rs 500,000] then suggest you incorporate a partnership firm or company, there are quite a few exceptions you can claim lowering you tax outgo.  The fact that you are transferring funds to your partners can be an issue incase you get audited. You would need to have sufficient evidence to show that the money paid was for services rendered directly and not your income. It would be easier if you create a partnership or have the client directly pay to them. Again if the sum is small its fine, as the sum becomes large, it would get noticed by the tax authorities. I think you can. I went to Mexico for business and the company paid for it, so if you are self employed you should be able to expense it. "A C-Corp is not a pass-through entity, any applicable taxes would be paid by the Corporation, which is a separate legal entity from yourself. If you use the points to purchase something for yourself, that would constitute ""income"" to you, and would be taxable on your personal income tax." "Going by the information from Goods and Services Tax (GST) on the Australian Government website, there seem to be a number of possibilities. Note: First I am neither a tax expert nor a lawyer; this is simply my interpretation of the rules on the page linked above. Second, this interpretation is based on the assumption that ""resells a service"" means you (at least technically) buy the service from another company and sell it on to the users of your app. Depending on the nature of the service, and possibly factors such as whether you are deemed to ""take possession"" during the transaction, it might be that different rules apply. Your Turnover is Under A$75,000 (Providing you're not reselling taxi services!) You won't need to register for GST, should not charge it, and your invoices should show that GST was not included in the price. However, if the turnover of the company whose services you are reselling is registered for GST, they will be charging you GST that you will not be able to claim back, so you would need to factor this into the price you charge your users (before any promotional discount). For example: Your Turnover is Over A$75,000 If your turnover is above the limit, you would need to charge GST on the final sale amount and pay this amount (one eleventh of the price your customer paid) to the Australian Government. You also have to send out properly-formatted tax invoices. However, it's probably safe to say the company you are buying the original service from will also be over the GST threshold, so you should be able to reclaim the GST that was charged to you by them.  For example: Here, your overall profit/loss is helped by the fact that you can reclaim the GST you were charged, and can under some circumstances result in an overall rebate. These figures assume you add 10% to your selling price to cover the GST you have to pay the Government. However, this may make your offering uncompetitive, so you may have to absorb some/all of the GST yourself." "Regarding vehicle property tax in Virgina. The big difference is that business vehicles don't get a tax break: Under Virginia law -- the Personal Property Tax Relief Act of 1998   (PPTRA, also known as the ""No Car Tax"" legislation) -- the State   planned to subsidize 100% of the taxes on personal use vehicle   assessments below $20,000 by the year 2002. In passing this law, the   State effectively pledged state revenue to pay local governments   throughout the Commonwealth a subsidy in lieu of personal property   taxes that local governments would have otherwise collected directly   from taxpayers. At present, the State pays approximately 62% of the   bill, and the taxpayer pays the remaining 38%. These rates are subject   to change annually. The taxpayer must pay the full amount of taxes on   any vehicle assessment that exceeds $20,000. Only personal use   vehicles qualify for PPTRA. If that vehicle is worth 20K then a business will pay 4.57% of 20,000, but an individual will pay 4.57% of 7,600. A difference of $566 per year." From your first link: IRS.gov: IRA One-Rollover-Per-Year-Rule IRA One-Rollover-Per-Year Rule Beginning in 2015, you can make only one rollover from an IRA to   another (or the same) IRA in any 12-month period, regardless of the   number of IRAs you own (Announcement  2014-15 and Announcement   2014-32). The limit will apply by aggregating all of an individual’s   IRAs, including SEP and SIMPLE IRAs as well as traditional and Roth   IRAs, effectively treating them as one IRA for purposes of the limit. They are limiting your ability to roll over money from an IRA to an IRA. You are looking to go from a 401K to an IRA. That is fine. The idea was that some people were taking all money from their IRA, using it for almost 60 days, then putting it back into an IRA. Thus getting a sort of short term loan. They could do this multiple times in a year. The direct trustee-to-trustee transfer are exempt from the once per year rule because the money is never in your possession.  Moving money from a 401K/403b/TSP plan from your former employer to an IRA or Roth IRA is fine, and isn't limited to once per year.