- Trusted Tax Experts for Rideshare Drivers in Toronto
Uber And Lyft Tax Accountant Toronto
If you drive for Uber or Lyft in Toronto or North York, your taxes are treated as self- employment. That means you must track business expenses, report your net income correctly, and comply with CRA rules — including mandatory HST registration starting from your very first ride.
NRK Accounting files accurate rideshare tax returns and ensures you receive every deduction you’re entitled to while staying fully compliant.
Expert Tax Filing For Uber And Lyft Drivers
We prepare your T1 return with the required T2125 business statement and document deductions properly, including:
- Gas and vehicle repairs
- Lease or loan payments (business portion)
- Cell phone (business percentage)
- Parking and tolls
- Mileage tracking setup
- Depreciation (CCA) when eligible
We also provide ongoing support with mileage logging and expense organization. Bookkeeping Services Toronto.
HST Registration and Filing for Uber Drivers
Rideshare drivers must charge and remit HST from their first dollar earned. NRK Accounting can:
Register you for HST
Complete registration process
File quarterly or annual HST returns
Timely and accurate filing
Help you claim Input Tax Credits correctly
Maximize your credits
Prevent interest and penalties
Stay compliant with CRA
Learn More About HST filing services
Stay Fully Compliant And Avoid CRA Issues
Rideshare income commonly triggers CRA reviews for:
Missing HST registration
Required from your first ride
Incorrect mileage claims
Proper tracking is essential
Under reported income
All income must be declared
Insufficient documentation
Keep detailed records
We help prevent problems and communicate with CRA if any issues arise. Internal link for developer. Tax audit assistance.
Delivery Drivers Also Supported
If you also deliver with Uber Eats, DoorDash, or SkipTheDishes, we ensure both rideshare and delivery income are reported accurately and combined correctly for HST and deduction calculations.
This helps you avoid mistakes and maximize profit.
Why Toronto Drivers Choose NRK Accounting
Affordable pricing for rideshare income
Accurate tax preparation with full expense claims
Fast electronic filing
Year round guidance
Virtual or in office service in Toronto and North York
FAQs Uber And Lyft Taxes
Do Uber and Lyft drivers need to register for HST?
Yes. All rideshare drivers must charge and remit HST from their first ride — no $30,000 exemption.
Can I deduct my car expenses?
Yes. Gas, maintenance, insurance, and other costs can be deducted based on business-use percentage.
What if I also do food deliveries?
Income from multiple apps is combined for tax and HST reporting.
Can I do my own taxes?
It’s possible, but incorrect filings often lead to CRA audits or penalties. Professional support keeps you compliant.
Book Your Free Consultation
Let us handle the tax rules so you can focus on driving. Serving Toronto and North York.
Location
40 Wynford Drive, Suite 211 North York, Toronto
Phone
416-577-4301
info@nrkaccounting.com