If you are a delivery partner, whether full-time or part-time, exhaustion becomes a part of your daily routine. On top of the day-to-day hustle there are certain losses in business hours that are capable of ruining your day.
Good news is that we’ve figured out 5 easy ways to turn those losses into savings if you promise to be a little mindful when you go out on your next round of deliveries…
1. Use paid parking when waiting for pick up -
At first glance this might seem like an unnecessary expense but most customers who want to cancel their orders do it before pick up is complete to avoid cancellation charges. There is no way of predicting it. It is smarter to park at a parking space and not rush into waiting at places where you might be fined.
Parking fees are fully claimable in tax returns while fines and tickets are not. You don’t want to lose time and money on an order that might get cancelled.
2. Claiming deductions while you wait -
There’s no certainty for how many orders you will be able to complete in a day. You may have a target but there’s only so far you can push yourself. When you find yourself working on a ‘low day’ use the waiting time to your own advantage. Start ‘tagging’ your previous business expenses to meet an estimated tax savings. Instead of worrying about settling for less orders you can actually save money while you wait!
Manual bookkeeping is hectic. Try using a more automated and smooth method to categorise and claim deductions on your expenses.
3. Sign up for loyalty programs or platform communities -
Look for opportunities to engage with the delivery platform’s algorithm. As ‘tech-y’ as it sounds, it is important to try and put yourself out there in order to get more delivery orders. Brands like Sherpa have come up with their own unique loyalty program for their delivery drivers to reward their hard-work and dedication.
You can also sign up to the social media and newsletter communities of the delivery platforms you work for in order to make the most of your driver app. The best news is that you can claim any membership or subscription charges used for delivery work in your yearly tax returns.
4. Clear your doubts -
Needless to say, when you have to spend a big chunk of your time riding on jam packed roads some very important doubts slip out the back of your mind until the very last minute. It is important to be aware of your tax obligations to successfully avoid late fees and fines. Do not wait for last minute resolutions since your accountant would be very busy in tax season to revert back to other queries. Also resulting in minimised savings.
When you are waiting for orders on a low day make sure to bring those doubts into light and ask on secured community forums. The Australian Tax Office has its very own, free-to-use, community where sole traders, delivery partners, independent contractors and freelancers can ask away their doubts and assuredly receive expert advice.
5. Connect with a personal accountant ahead of time -
Accountants can do more than just lodgement for you. If you have doubts regarding your personal finances, debt or particular expenses it is advisable to connect with an accountant ahead of time.
But what if I miss out on orders while heading to the accountant’s office? You won’t if the accountant’s office is on your phone screen.
We’re not kidding. While you wait for orders you can simply sign up for a consultation with a certified accountant on your phone without having to budge an inch! Now you can connect over financial advice without wasting time commuting to an accountant.
Menulog, Deliveroo, UberEats and all other platform driving partners go through major income uncertainties. Time is a super important resource for you. Don’t let a bad day flip your money goals upside down. Making the most out of your own time and available resources is the best practice to overcome low income challenges.
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