TwoHeadsTas Posted 20September, 2021 Report Share Posted 20September, 2021 It would appear the ATO is widening its Info gathering sources to include Patreon, OnlyFans, Twitch etc for tax return crossmatching. So, for those of you with side hustles, make sure you declare the income (and of course expenses). They reckon lots of people have developed extra income sources during Lockdowns, so they want a piece of the action. So, if you've got a nice income source from your OnlyFans page, beware 🙂 spiller, tomo and Naldz88 3 Quote Link to comment Share on other sites More sharing options...
LeeM Posted 20September, 2021 Report Share Posted 20September, 2021 Can I claim my g strings and mankinis? TwoHeadsTas and Shedpest 2 Quote Link to comment Share on other sites More sharing options...
Dalai Posted 20September, 2021 Report Share Posted 20September, 2021 30 minutes ago, LeeM said: Can I claim my g strings and mankinis? Only if your Webcam show is a registered business. That's what my accountant my friends accountant said... LeeM, Shedpest and TwoHeadsTas 1 2 Quote Link to comment Share on other sites More sharing options...
Sov Posted 20September, 2021 Report Share Posted 20September, 2021 Offshore bank accounts for the win Raven 1 Quote Link to comment Share on other sites More sharing options...
jakroo Posted 21September, 2021 Report Share Posted 21September, 2021 21 hours ago, Dalai said: Only if your Webcam show is a registered business. That's what my accountant my friends accountant said... There's a line between hobby and business. Hobby income and expenses are yours and don't need to be declared. I suspect there'll be plenty of people in wanting it to be a business but very little actual sales that effectively make it a hobby. And then there's those people whose hobby has taken off big time and are making real income and that becomes an issue for the ATO, irrespective of whether the income goes in to an Aussie or overseas account. Quote Link to comment Share on other sites More sharing options...
symsy Posted 22September, 2021 Report Share Posted 22September, 2021 Do wives , girlfriends , children fall under hobbies... they have serious expense levels and little income ... I guess wives and girlfriends might fall under fringe benefits Yeatesy and Raven 2 Quote Link to comment Share on other sites More sharing options...
TwoHeadsTas Posted 22September, 2021 Author Report Share Posted 22September, 2021 18 minutes ago, symsy said: Do wives , girlfriends , children fall under hobbies... they have serious expense levels and little income ... I guess wives and girlfriends might fall under fringe benefits Girlfriends probably do, wives probably fall under liabilities....... Just kidding 🙂 Raven, symsy and Yeatesy 1 2 Quote Link to comment Share on other sites More sharing options...
Sov Posted 22September, 2021 Report Share Posted 22September, 2021 Girlfriends are also a liability if you already have a wife. Quote Link to comment Share on other sites More sharing options...
LeeM Posted 23September, 2021 Report Share Posted 23September, 2021 8 hours ago, the_sovereign_man said: Girlfriends are also a liability if you already have a wife. An expensive accessory more like it...apparently Quote Link to comment Share on other sites More sharing options...
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