Jump to content

More and more ATO advices

Recommended Posts

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 🙂 

Link to comment
Share on other sites

21 hours ago, Dalai said:

Only if your Webcam show is a registered business. That's what my accountant my friends accountant said... :ph34r:

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.

Link to comment
Share on other sites

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 🙂 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Create New...