Uber pays its drivers ‘wages’ and is liable for $81m payroll tax bill, Australia’s high court rules
Published . Updated .
Market Call
Think this story will push the stock up or down over the next three trading days? Make a free call and see what other readers think. Points are play money with no cash value.
Get these market calls by email
The week's biggest market-moving stories, Congress trades and Trump posts, with the tickers they touch. Free, one email a week.
Free. We only use your email to send the digest, never sell or share it, and every email has a one-click unsubscribe link. See our privacy policy.
Rideshare company unsuccessfully argued it didn’t employ workers and claimed money paid was not wages under NSW law The rideshare behemoth Uber has suffered a bruising loss in Australia’s high court that will cost it more than $80m in unpaid taxes. The court on Wednesday dismissed Uber’s claim it was not liable to pay payroll tax in New South Wales after it argued that it does not employ drivers and claimed that money paid to its drivers were not wages under state law. Continue reading...
Directly affected
- UBER Uber Technologies
Named in this report.
Indirectly affected
- EWA iShares MSCI Australia ETF
iShares MSCI Australia ETF holds stocks listed in Australia, which this story is about (“australia”).
- BHP BHP Group
BHP Group (metal mining) is one of the largest Australia-based companies traded in the US, so news about Australia (“australia”) reaches its shares.
- IREN Iren
Iren (finance services) is one of the largest Australia-based companies traded in the US, so news about Australia (“australia”) reaches its shares.
- MESO Mesoblast
Mesoblast (biological products, (no diagnostic substances)) is one of the largest Australia-based companies traded in the US, so news about Australia (“australia”) reaches its shares.
- EFA iShares MSCI EAFE ETF
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Australia, which this story is about.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| UBER | -2.00% | -2.06% | base | +5.00% | +3.29% | +2.99% | +6.85% |
| EWA | +1.62% | +1.58% | base | +2.44% | +0.65% | +0.40% | +2.08% |
| BHP | +5.35% | +1.40% | base | +2.54% | +0.63% | +2.28% | +6.29% |
| IREN | +17.77% | -2.10% | base | -10.70% | -26.39% | -11.60% | -12.56% |
| MESO | -9.41% | +2.37% | base | -3.35% | -4.74% | -3.52% | -1.96% |
| EFA | +0.59% | +0.25% | base | +2.55% | -0.40% | -1.19% | +1.81% |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Rideshare company unsuccessfully argued it didn’t employ workers and claimed money paid was not wages under NSW law The rideshare behemoth Uber has suffered a bruising loss in Australia’s high court that will cost it more than $80m in unpa…
Source: The Guardian
This story
| Company | When | Move | Status |
|---|---|---|---|
| BHP | that day | +2.54% | final price |
| BHP | the next day | +0.63% | final price |
| BHP | two days later | +2.28% | final price |
| BHP | three days later | +6.29% | final price |
| BHP | three days earlier | +1.40% | final price |
| BHP | five days earlier | +5.35% | final price |
| EFA | that day | +2.55% | final price |
| EFA | the next day | -0.40% | final price |
| EFA | two days later | -1.19% | final price |
| EFA | three days later | +1.81% | final price |
| EFA | three days earlier | +0.25% | final price |
| EFA | five days earlier | +0.59% | final price |
| EWA | that day | +2.44% | final price |
| EWA | the next day | +0.65% | final price |
| EWA | two days later | +0.40% | final price |
| EWA | three days later | +2.08% | final price |
| EWA | three days earlier | +1.58% | final price |
| EWA | five days earlier | +1.62% | final price |
| IREN | that day | -10.70% | final price |
| IREN | the next day | -26.39% | final price |
| IREN | two days later | -11.60% | final price |
| IREN | three days later | -12.56% | final price |
| IREN | three days earlier | -2.10% | final price |
| IREN | five days earlier | +17.77% | final price |
| MESO | that day | -3.35% | final price |
| MESO | the next day | -4.74% | final price |
| MESO | two days later | -3.52% | final price |
| MESO | three days later | -1.96% | final price |
| MESO | three days earlier | +2.37% | final price |
| MESO | five days earlier | -9.41% | final price |
| UBER | that day | +5.00% | final price |
| UBER | the next day | +3.29% | final price |
| UBER | two days later | +2.99% | final price |
| UBER | three days later | +6.85% | final price |
| UBER | three days earlier | -2.06% | final price |
| UBER | five days earlier | -2.00% | final price |
Trades by members of Congress and officials in the stocks in this story
- Rep. Gilbert Cisneros sold Uber Technologies (UBER), worth $1,001 - $15,000 on 20 Oct 2026. That is 15 days before publication. Filed 10 Nov 2026. View the filing.
- Donald J Trump, an executive branch official, bought Uber Technologies (UBER), worth $50,001 - $100,000 on 28 Aug 2026. That is 68 days before publication. Filed 8 Oct 2026. View the filing.
- Donald J Trump, an executive branch official, bought Uber Technologies (UBER), worth $15,001 - $50,000 on 17 Aug 2026. That is 79 days before publication. Filed 8 Oct 2026. View the filing.
- Sen. John Boozman sold EFA (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 56 days before publication. Filed 21 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
This story
12 out of 100
“Uber pays its drivers ‘wages’ and is liable for $81m payroll tax bill, Australia’s high court rules” scores 12 out of 100. The score uses 1 sources.