How much you can make as a Lyft driver in Canada?
How much money can Lyft drivers earn in Toronto, Ottawa Canada?
If you are thinking to become Lyft driver in Canada; you might be wondering that how much I will make as Lyft driver in Canada. As matter of fact there is no exact number to predict. Because when it is about earnings there are multiple factors involve; such as time when you drive, vehicle, type of Lyft rides you can get, area check Lyft cities in Canada, working part time or full time, earning referral bonus etc.
Additionally as a Lyft driver in Toronto I have noticed when I driver with Lyft I earn slightly less than Uber. As I mentioned in my previous article about how much Uber make in Toronto? That Uber driver can make $20 to $30. Hence with Lyft you can make more or less same amount. Currently Lyft in only operational in Toronto GTA and Ottawa.
However Lyft earnings also involve Lyft streak bonus, prime time and power zones; therefore if you are getting these bonuses you can make more money. But you have to be smart and make your driving schedule during streak, prime time and power zones times.
Become Lyft Driver in Canada with $500 Signup Bonus
How much do Lyft driver make in Toronto?
I will share and explain my weekly Lyft earning in Toronto. I will discuss what type of earning or bonus I am getting and how you can maximize your Lyft earnings and make more money with Lyft while driving in Toronto.
Above is my Lyft weekly earnings report; during 5 Feb and 11 Feb 2018 I made $631.82 including HST while driving in Toronto GTA.
How much you can make as a full time Lyft driver?
If you want you can drive full time Lyft in Toronto or Ottawa. But weekend nights are always good and you make most of money during weekend’s night. However weekdays also help you give you little boost toward your ultimate earning goals.
Moreover weekdays usually busy during rush hours; you will get many rides in the morning when people go to work or appointments then it will slow down around 11 am. Next cycle will start around 4 pm till 7 pm.
If you see details of earnings; I didn’t driver on Tuesday; and Sunday, Monday, Wednesday and Thursday I have only 10 trips. While on Friday and Saturday night I have total 20 trips. Moreover total online time was 18 hours and 35 min.
How much you can make as a part time Lyft driver?
Either par time or full time as a Lyft driver you can’t skip weekend nights. In fact weekends are your main source of solid earnings. Moreover you can easily cash out $500 in two nights (Friday & Saturday).
There are lots of Lyft promotions in Canada for drivers. Possibly you may earn multiple bonuses during weekends; such as prime time, streak bonus and power zones.
In my total weekly $618 earnings; $466 was made on Friday and Saturday nights.
Don’t forget that you have to deduct expenses; such as gas, car maintenance, insurance etc. Also you have to remit HST to CRA; however you can claim certain type of tax credit.
Let’s see what include in weekly earnings report.
- Prime Time
- Cancellation Earnings
- Driver Referral
- Passenger Referral
- HST Collected
- HST on Bonuses
You can see various types of earnings in Lyft weekly report; in fact all together will make huge impact on your weekly earnings.
Earning simply means total fare of rides; which is calculated based on per km + per min rate; excluding any tips, prime time or bonus money.
When Lyft gets busy; Lyft charge more fare from riders and give it to you. Basically Lyft Prime Time is Lyft’s surging system. You can see heat map and prime time rate at Lyft driver app. Any money you make on top of normal fare is called prime time bonus.
Although tipping is totally optional; but sometime Lyft driver gets tips when they provide exceptional service and treat your rider nicely. Total amount of tips will show in tips. Learn how you can get tips?
When rider no longer need a ride or they change their plan they might cancel the ride. If they cancel after 2 min then they will be charged cancellation fee. Similarly you will also receive cancellation fee; when you arrived to pick rider and rider didn’t show up; you tried to contact and cancel the ride.
When you refer any new driver to Lyft; you earn driver referral bonus. In fact you can earn from $500 to $1000 as Lyft driver referral. Moreover driver referral bonus amount can be per ride based or fixed amount after completing required no of rides.
Moreover when you refer drivers to Lyft and they become Lyft driver in Canada. So you will get driver referral bonus on each referral.
For example if total driver referral bonus amount is $500; then with drip referral bonus you will earn $2.5 per ride; up to $500. Besides in fixed driver referral bonus; you will get driver referral bonus only when new driver complete 100 rides within 30 or 45 days.
Learn more how increase your referral income at Lyft driver referral bonus.
Total weekly passenger referral amount will appear in this section. Besides driver referral bonus; additionally you can earn $10 bonus on each new rider. Simply share your Lyft rider referral code with others; also called Lyft promo code, coupon code, credit code.
However you will get passenger bonus only when new riders sign up with your referral code or apply a Lyft promo code and take their first ride. Learn more about Lyft rider referral bonus in Canada. Furthermore passenger will also get $20 value of bonus and ride discount; which can be used for Lyft free ride.
When you use 407 Toll route; Lyft charge tolls from rider and pay to you. Therefore all tolls payments will appear in this section. Moreover Lyft will not pay you camera charges; so make sure you have 407 transponder.
Lyft will pay you HST on every ride; by law you are required to collect, report and remit HST to CRA. Total weekly HST paid to you by Lyft will show up in HST collected section. Learn more about Lyft HST requirements in Canada.
HST on Bonuses:
Besides normal HST; Lyft will also pay you HST on bonuses. You will get HST on driver referral, passenger referral bonus. For instance if you made $100 with referral; you will get $13 HST on top of that.